By Jim Christie

SAN FRANCISCO, Sept 6 (Reuters)– Korean delivery line Hanjin Shipping Co Ltd won an order on Tuesday from a united state court expanding insolvency defenses so its vessels can dock at united state ports without worry lenders will certainly attempt act versus the ships as they have in various other nations.

UNITED STATE Bankruptcy Judge John Sherwood accepted an activity by the globe’s 7th biggest container provider that looked for to encompass the United States the security from lenders that it has under receivership in South Korea.

The relocation protects against united state lenders from doing something about it versus the business’s ships and also various other properties.

The order is short-lived and also Hanjin will certainly require to go back to court on Friday for a last order after talks with stakeholders to attempt to deal with complicated issues including ports, incurable drivers and also sellers, Sherwood stated.

“It’s a logistical mess,” Sherwood stated.

Hanjin declared what is referred to as Chapter 15 insolvency security in the United States and also looked for an order acknowledging process in South Korea and also securing its united state properties.

Some Hanjin vessels have actually not anchored as a result of unpredictability regarding the business’s funds.

As of Monday, 70 Hanjin ships had actually been rejected accessibility to ports and also 3 had actually been taken in Singapore and also China by lenders with court orders.

Sherwood stated he would certainly authorize the acting order after an attorney for Hanjin stated its moms and dad business would certainly elevate $100 million for the delivery line to satisfy its freight dedications.

Hanjin’s insolvency comes as united state sellers are preparing for deliveries of Asian- made goods for the vacation buying period.

In court documents on Monday, HP Inc, previously Hewlett-Packard Co, stated it would certainly want to pay today to obtain its freight off Hanjin vessels, consisting of ones waiting to dock in united state West Coast ports to prevent “irreparable harm” to its organization.

HP stated the much longer several of its items like desktop computers and also printing materials made in China remain offshore, the higher the danger to its sales.

Some items need to reach shops promptly as a result of promos, HP stated, noting it has products aboard Hanjin ships waiting to dock in Seattle and also Long Beach, California.

“Failure to place these products on shelves in a timely manner will likely result in loss of market share,” HP stated, suggesting the products are its building and also are exempt to an insolvency remain.

HP stated its items remain in greater than 500 Hanjin delivery containers, with 142 predestined for or on their means to the United States.

To obtain its freight off Hanjin’s vessels, HP recommended positioning funds in an account managed by the delivery line’s united state insolvency advice.

The funds would certainly pay to supply or pay freight. Ports and also stevedores would certainly obtain a lien on the funds for charges and also expenses. (Reporting by Jim Christie; Editing by Tom Brown)

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