The effect of Hanjin's Korean rehabilitation proceedings in France has been rather limited.
In so far as we are aware, no protection order has been issued to date by French Courts for the benefit of Hanjin. It is worth noting that anti-suit injunctions of general character, i.e. not aimed at a particular creditor, do not exist, and would not be recognised in France. Nevertheless, it would be possible for Hanjin to apply in France for recognition of the effects of the Korean rehabilitation proceedings, such as the protection of its assets. The test for obtaining such recognition is rather simple: the competence of the court which pronounced the rehabilitation proceedings must be established, the rehabilitation proceedings should, in no manner, contravene "public order" rules, and there must be no element of fraud. It is also to be borne in mind that if a ship has been arrested, and the arrest has then been lifted in a member State of the European Union, a new arrest in France (involving the same creditor and the same debt) would not be possible by virtue of the European regulation n° 1215/2012.
Hanjin Shipping - Current Jurisdictional Status And Options - France
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
