Business Events Bankruptcy

  • Sept 9- A U.S. judge said on Friday he will grant Hanjin Shipping Co Ltd provisional protection from creditors in the United States, enabling some vessels to dock and unload at U.S. ports. "We have the money to fully service those four ships," Ilana Volkov, an attorney for Hanjin, told a U.S. Bankruptcy Court hearing in Newark, New Jersey on Friday. Around $14 billion of...

  • Sept 9- Hanjin Shipping Co Ltd has received authority to spend the money needed to dock at U.S. ports and begin unloading four vessels that have been stranded at sea by the company's failure last week, a company lawyer told a U.S. court on Friday. "We have the money to fully service those four ships," Ilana Volkov, an attorney for Hanjin, told a U.S. Bankruptcy Court hearing...

  • Hanjin has funds to unload ships

    CNBC's Morgan Brennan reports the latest on the shipping crunch caused by Hanjin declaring bankruptcy.

  • Sept 9- Hanjin Shipping Co Ltd has received authority to spend the money needed to dock at U.S. ports and begin unloading four vessels that have been stranded at sea by the company's failure last week, a company lawyer told a U.S. court on Friday. "We have the money to fully service those four ships," Ilana Volkov, a Hanjin attorney, told a U.S. Bankruptcy Court hearing in...

  • Sept 9- Hanjin Shipping Co Ltd has received authority to spend the money needed to dock at U.S. ports and begin unloading four vessels that have been stranded at sea by the company's failure last week, a company lawyer told a U.S. court on Friday. "We have the money to fully service those four ships," Ilana Volkov, a Hanjin attorney, told a U.S. Bankruptcy Court hearing in...

  • Cargo chaos at sea

    CNBC's Morgan Brennan reports the latest on the supply chain disruptions caused by the Hanjin bankruptcy.

  • Sept 8- Samsung Electronics Co Ltd on Thursday asked a U.S. judge to allow the South Korean company to pay cargo handlers to remove its goods from Hanjin Shipping Co Ltd's vessels stationed near U.S. ports after the world's seventh-largest container carrier filed for bankruptcy. "There's no earthly reason why these parties should not be permitted to cut their...

  • SAO PAULO, Sept 8- Oi SA, Brazil's largest fixed-line telephone carrier, said the Rio de Janeiro court overseeing its bankruptcy protection maintained the suspension of shareholder meetings originally scheduled for this Thursday, according to a securities filing. The shareholder meetings were called by activist investor Société Mondiale in August, but...

  • A US judge grants the troubled shipping line an extension on bankruptcy protections.

  • SAN FRANCISCO, Sept 6- Korean shipping line Hanjin Shipping Co Ltd won an order on Tuesday from a U.S. judge extending bankruptcy protections so its vessels can dock at U.S. ports without fear creditors will try take actions against the ships as they have in other countries. Bankruptcy Judge John Sherwood approved a motion by the world's seventh largest...

  • ABU DHABI, Sept 6- A new bankruptcy law in the United Arab Emirates promises to reduce the risks of doing business in the country by allowing businessmen and executives to avoid time in jail if their companies fail to pay debts. This is an important step for the UAE, "he said. At present the UAE does not have modern bankruptcy regulations, making it difficult for...

  • The funding, however, is seen as falling far short of what the world's seventh-largest container carrier needs after filing for court receivership.

  • SAO PAULO, Sept 5- Oi SA, Brazil's largest fixed-line phone carrier and No. 4 mobile operator, along with six subsidiaries, on Monday submitted a debt restructuring plan to a Rio de Janeiro bankruptcy court, a statement from the prosecutor's office said.

  • Stacked containers at the Hanjin Incheon Container Terminal in Seoul.

    Hanjin Shipping plans to take legal action in jurisdictions worldwide to prevent its vessels being seized.

  • SAO PAULO, Sept 2- Brazilian telecom provider Oi SA is set to file its bankruptcy reorganization plan with a Rio de Janeiro court on Monday, two sources familiar with the situation told Reuters. Oi, Brazil's largest fixed-line phone carrier and No. 4 mobile operator, along with six subsidiaries, filed on June 20 for the country's biggest-ever bankruptcy...

  • Hermine threatens to dampen Labor Day plans

    CNBC's Morgan Brennan reports the latest of tropical storm Hermine, and also Hanjin's bankruptcy turmoil.

  • SAO PAULO, Sept 2- Brazilian telecom provider Oi SA is set to file its bankruptcy reorganization plan with a Rio de Janeiro court on Monday, two sources familiar with the situation told Reuters. Oi, Brazil's largest fixed-line phone carrier and No. 4 mobile operator, along with six subsidiaries, filed on June 20 for the country's biggest-ever bankruptcy...

  • The downfall of the South Korean shipper, Hanjin Shipping, has sent shockwaves across businesses globally.

  • SAO PAULO, Sept. 2- Growing tensions over Oi SA's bankruptcy process are driving some bondholders to court Brazil's government as an ally against several investors whom they view as a threat to the phone carrier's survival. Oi is Brazil's largest fixed-line carrier, employs some 140,000 people and is the only phone company in 1,800 Brazilian towns, or about...

  • CHICAGO, Sept 1- A group of SandRidge Energy Inc shareholders is accusing the oil and gas producer of grossly understating its value, threatening to derail a prepackaged bankruptcy agreement with its lenders. Shareholders are hoping to prove SandRidge may be the rare bankruptcy where a company's assets are valuable enough to repay creditors and have money...