Forever 21 blames bankruptcy on de minimis exemption
Forever 21, the US clothing retailer, has gone down shouting: it has squarely blamed its ...
© Mihail Ivanov
By Mike Wackett
At a US bankruptcy court hearing last week a lawyer representing Hanjin Shipping said the carrier is owed up to $80m for completed shipments, hobbling its efforts to move stranded containers.
Hanjin’s credit terms were known to be some of the most generous in the industry, but many shippers want to offset freight costs against additional charges incurred in the wake of the carrier’s collapse.
Ilana Volkov, an attorney from New Jersey-based law firm Cole Schotz, claimed shippers were deliberately holding up payments.
Ms Volkov, a bankruptcy ...
Comment on this article
David
September 30, 2016 at 7:02 amKAL, Korea Air Line transmitted KRW 60 billion to Hanjin Shipping company under the morgage of Hanjin Shipping company Office building in Atlanta and its company workers Apartment complexes in Seoul and Busan on September 29, 2016. It seemed to take times to establish collaral securities on the register record of its office building in USA.