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South Korea court says it has not yet decided whether sale of Hanjin Shipping is needed

Reuters
Hanjin Hungary (L) and Hanjin Louisiana are docked at PSA's Tanjong Pagar terminal in Singapore September 28, 2016. REUTERS/Edgar Su

SEOUL (Reuters) - The South Korean court overseeing Hanjin Shipping's receivership process said on Wednesday that a sale of the world's seventh-largest container carrier, which collapsed late last month, is one of many options it is considering if the court concludes the company is to be rehabilitated.

Judge Choi Ung-young, who serves as a court spokesman for media inquiries on the case, said a sale is possible in principle if it's deemed the best way to rehabilitate the company, but the court has yet to reach a decision.

The spokesman's comment came after Bloomberg reported earlier on Wednesday that the court has decided a sale of Hanjin Shipping is needed.

Hanjin, which filed for court receivership on Aug. 31, must submit a rehabilitation plan to the court in December.

(Reporting by Joyce Lee; Editing by Kenneth Maxwell)