Sanko Steamship Co., the Japanese operator of 185 ships, asked a court to protect its U.S. assets after the company filed for bankruptcy protection in Japan, Bloomberg News reported today. Sanko listed assets and debt of more than $500 million in a chapter 15 petition filed today. Sanko said yesterday that the Tokyo District Court granted the closely held company permission to keep operating. A trustee will be appointed to oversee a reorganization, the Tokyo-based company said.
