HANJIN SHIPPING BANKRUPTCY UPDATES: 2016.10.10

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Date
2016-10-11 22:22
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Order Approving Motion of Globerunners, Inc to Clarify and Expand the Relief

The "Motion" by party-in-interest Globerunners, Inc. ("Movant"), a third party logistics provider and non-vessel operating common carrier was granted as under to expand and to clarify the relief set forth in the Court's September 9, 2016 Order.

1. The Motion is hereby GRANTED as stated herein.
2. With regard to shipping containers currently carrying cargo for Movant's customers in the United States or in United States customs bond, where said containers were leased to Debtor by third parties, Debtor hereby disclaims all right, title, and interest in and to said containers, and Movant is hereby authorized, but not required, to enter into new agreements with said container owners for the use of the containers.
a. To clarify any prefix with the following container numbers are considered Hanjin owned - HJCU, HJSU, SENU
b. Any other containers with different prefix may be considered 'leased' to Debtor.
3. With regard to shipping containers currently carrying cargo for Movant's customers in the United States or in United States customs bond, where said containers are owned by Debtor, Movant may choose between the following options, without incurring any demurrage or detention charges to Debtor:
a. Option 1. Movant may empty a container and return it, without further charge, to a site to be designated by Debtor. If Movant is devanning the cargo to use another container, it is at the Movant's cost and risk. Emptied containers should be returned to the marine terminal where they were originally picked up or to another depot designated by Debtor no greater than 50 miles from the location where the container(s) were picked up, at no further charge by Debtor; or

b. Option 2. Movant may continue to utilize a container, but in doing so shall incur a rental charge of ten ($10.00) dollars per container per day per container with a maximum of $700.00 for per container usage. The usage charge shall be paid within 30 days of sailing and Movant's receipt of an invoice from Debtor.

This perdiem charge shall cease to accrue upon the movant either: (i) returning the container to a site designated by Debtor and is reasonably convenient to the container's place of delivery, or (ii) returning to another reasonably convenient (ie. 50 miles from the above 'discharging terminal') designated and notified by Debtor.
c. Movant shall be responsible for the cost of transporting the containers beyond the ocean terminal to its intended destination and to return the empty container back to the Debtor's designated return location, if one is provided. Movant shall not bear responsibly for additional usage charge for the container in the event that the terminal at origin refuses to accept the empty container and no substitute, reasonably convenient, designated return location is provided by Debtor.
4. On export shipments wherein Movant tendered cargo to Debtor either on an intermodal basis or directly to a maritime terminal for export shipments on Debtor's partners' vessels to be transported pursuant to Debtor's bills of lading, Debtor hereby relinquishes all rights to claim freight charges for these shipments to the extent these are shipped to their destinations by other ocean common carriers on Movant's behalf, other than the charges agreed under this order.
5. Nothing in this order shall be construed as a waiver of any rights and defenses by either party.



Filing of claims against Hanjin Shipping Co., Ltd

All creditors, those who hold rehabilitation claims and/or rehabilitation security rights must file their claims within the specified period: October 11, 2016 ~ October 25, 2016.

The deadline to file is October 25, 2016 by 6:00pm Korean Time (GMT+9). Any claims not filed within the specified period or later reported to the bankruptcy court will be excluded from the rehabilitation plan making such claims unenforceable against Hanjin Shipping Co., Ltd.

It can take time to prepare all the documents, and transmit them for filing in the Korean Bankruptcy Court (Bankruptcy Division of the Seoul Central District Court). Due to the venue requirements, all documents shall be filed in Korean only and any documents not written in Korean shall be translated in Korean.

For this reason, all creditors should not delay in preparing claims. Your delay may result in a loss of rights, and/or your ability to file an acceptable claim in this matter.

Filing in the Korean Courts is significantly different from their United States counterparts, for this reason, and because all noncomplying claims will be rejected, it is important to retain a professional familiar with both the United States and Korean Court systems, and that have the ability to properly translate and file documents in the Korean language.

Our office is currently preparing claims for creditors, and has the abilities necessary to file successful claims in this matter with the Korean Bankruptcy Court.
All creditors with claims should gather and provide their professional with the following information without delay:

• Documents of all money owed by Hanjin Shipping or its affiliates, including all supporting documents, invoices, waybills, and other documents necessary to prove the claims' validity.
• All corporate clients should also have a copy of their corporate register certificates. If you are unsure what these items are, please contact our office for further clarification.
• All individual clients should have their personal identification and business registration certificates or licenses. Again, if you are unaware what these items are, please contact our office for further clarification.
• A list of any lawsuits filed, pending, or adjudicated against Hanjin Shipping, including case number, the parties involved, the Court involved, and the current case status.
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