Hanjin Shipping Co. won court protection for its ships bound for the U.S., allowing the company to unload four vessels without fear of having them seized by creditors, Bloomberg News reported on Friday. Bankruptcy Judge John K. Sherwood on Friday granted the Seoul-based company protection under chapter 15 of the Bankruptcy Code. Judge Sherwood had given the company provisional protection on Sept. 6. His ruling Friday broadened that legal shield and extended its length. The decision by the court in Newark, New Jersey, will allow goods on at least four ships to come into port in the U.S. Worldwide, an estimated $14 billion worth of goods has been stuck on Hanjin ships, which ferry goods for companies including Nike Inc. and Hugo Boss AG.
