K&P Law Firm - International Law Firm in Incheon, South Korea

1.                 Current Situation Hanjin Shipping Co Ltd (“Hanjin Shipping”), applied for Court Rehabilitation to the Seoul Central District Court (Bankruptcy Division 6). On 1 September 2016 the said Court issued a decision accepting Hanjin’s application, thereby commencing the rehabilitation proceedings (“Rehabilitation”). 2.                 What is Rehabilitation? Rehabilitation is the procedure whereby debtor’s debts are adjusted by a Rehabilitation Plan which is admitted by the court under the “Debtor Rehabilitation and Bankruptcy Act” Under the Rehabilitation Plan, a debtor’s debts can be reduced, payment can be delayed, and interest rate can be lowered. 3.              As a creditor, is there anything I need to do to get involved in the Court proceedings in South Korea? Creditors should report their claims between 20 September 2016 to 4 October 2016. As part of this claims notification, supporting documents or evidence should be submitted .

Company research is one of our expertise. Our lawyers and staffs have in-depth knowledge and experiences in company research and profound understanding in dynamics of Korean business environment, culture and economics.  For more information about us, please visit our website at http://kimnpark.com/eng/index/ Our expertise and attention to detail have aided in keeping many agencies or companies on track regarding their search and debt collection works.     Our primary function of company research is to facilitate our clients' search process by providing essential information of the targeted company, agency, or organization, while offering various resources to help our clients effectively in their debt collecting works. Our service includes search of Company Registry, Financial Report and other resources publicly opened.   Further, upon client's request, we take legal actions including but not limited to Arbitration, Mediation, Litigation and Letter of Demand sending servic