The rehabilitation receiver for Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) has resigned.
Stefani Sano blamed creditor opposition to his appointment by a local court, according to Business World.
He said in a statement: "By this resignation, I hope that the creditor banks shall have no more issues to oppose and instead focus on the rehabilitation of Hanjin and keeping the jobs for over 3,000 employees."
"A timely, fair, transparent and efficient rehabilitation is of paramount importance."
He added: "Time is of the essence and the precious time of the honorable court cannot be spent on protracted debates and arguments to resolve the issue as to who should be the rehabilitation receiver. It will only overshadow the primary goal."
Sano had already asked Korea Development Bank "to transfer to Metrobank $45m," of which $32m was "to cover the security for the loan granted by Metrobank to Hanjin" and the balance "to finish two ships in the shipyard for delivery to the owners and generate further funds to finish four more ships."
HHIC-Phil's declared assets are about $1.5bn, against $412m owed to lenders.
The yard filed for rehabilitation last month after defaulting on loans.
State aid and a sale to Chinese interests have been mooted as possible ways forward for the shipyard.
