Hanjin Shipping filed for bankruptcy protection in the US, a move widely expected to put a freeze on litigation following approval of the South Korean shipowner’s rehabilitation.
The Chapter 15 petition at the federal court in Newark, New Jersey, seeks US recognition of the main proceedings in the Seoul Central District Court.
The legal papers show that Hanjin has nearly KRW 6.03 trillion ($5.04bn) in total liabilities and KRW 6.62 trillion in assets.
The US petition was filed by New Jersey law firm Cole Schotz.
It was made the same day that Hanjin Shipping became a target of a fifth US lawsuit since filing for rehabilitation on Wednesday.
AP Moller-Maersk subsidiary APM Terminals filed a lawsuit in Los Angeles seeking to seize nearly $835,000 in Hanjin assets on allegations that the South Korean operator has failed to pay stevedore, terminal and other fees.
Hanjin could not be immediately reached for comment on this story.
