A U.S. judge said on Friday he will grant Hanjin Shipping provisional protection from creditors in the United States, enabling some vessels to dock and unload at U.S. ports.
South Korea’s Hanjin asked U.S. Bankruptcy Judge John Sherwood to issue an order that would prevent creditors from seizing Hanjin ships or property, and allow cargo owners to make arrangements to retrieve goods stranded in warehouses.
Earlier, the company 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.