Hanjin Shipping has filed for court receivership after its creditors refused to provide any further loans to the debt-ridden carrier.
Ports including those in Shanghai, Xiamen, Valencia, and Savannah have blocked access to Hanjin ships due to concerns they would not be able to pay fees, reported Reuters.
The firm’s board unanimously agreed to make the court filing after failing to persuade lenders to back a new debt restructuring plan.
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