Hyundai Merchant Marine Co Ltd is in talks with South Korean firms such as home appliance makers Samsung and LG to carry their cargo, the chairman of South Korea's Financial Services Commission told reporters on Monday. Samsung Electronics Co Ltd and LG Electronics Inc have been customers of Hanjin Shipping Co Ltd , a Hanjin spokeswoman previously told Reuters. Shares in Hanjin Shipping slumped by the daily limit of 30 percent in resumed trade on Monday as the South Korean shipping firm struggles to contain the fallout of its collapse.

China’s banks, which dialed down fundraising efforts this year even as bad debts swelled, are making up for lost time, Bloomberg News reported. Both lenders and the companies set up to acquire their delinquent assets are bolstering their finances. China Citic Bank Corp. last month announced plans to raise as much as 40 billion yuan ($6 billion), while Agricultural Bank of China Ltd., Industrial Bank Co. and China Zheshang Bank Co. are also boosting capital. China Cinda Asset Management Co. and China Huarong Asset Management Co. are poised to tap investors.

South Korean container shipper Hanjin Shipping Co Ltd said on Friday its membership in the CKYHE shipping alliance has been suspended, adding to the troubles of the country's top shipping firm, Reuters reported. The firm was notified of the suspension late on Thursday, a Hanjin Shipping spokeswoman said. The alliance includes China COSCO, Yang Ming Marine Transport Corp and Evergreen Marine Corp Taiwan Ltd. Hanjin filed for court receivership on Wednesday after creditor banks decided to end financial support.

In a related story, Reuters reported that Hyundai Merchant Marine Co Ltd said on Thursday it will deploy vessels on routes that bankrupt Hanjin Shipping used to use from South Korea to the United States and Europe, it said in a statement on Thursday. Hyundai Merchant Marine said it will start on Sept. 8 deploying four ships capable of carrying 4,000 twenty-foot equivalent units (TEU) each, on the route between Busan, South Korea, and Los Angeles.

A plan to regulate the insolvency sector and shut down unscrupulous operators is being welcomed by an industry body, Radio New Zealand reported. The government has released the first part of a review into insolvency laws, which recommends licensing for practitioners and steps to improve protection for creditors in voluntary liquidations. The working group's report said current regulation fell short of ensuring creditors could have confidence that practitioners handling corporate insolvency are qualified and bound by an acceptable code of ethics.

Several ports, including those in China and the United States, have denied entry to ships of South Korea's Hanjin Shipping Co on concerns it won't be able to pay fees after banks halted support to the firm, a company spokeswoman said on Wednesday, Reuters reported. The ports that have so far blocked entry to its ships are Xiamen and Xingang, China; Valencia, Spain; Savannah, United States, and Prince Rupert, Canada, the spokeswoman said.

Hanjin Shipping Co. will apply for court receivership after lenders decided to halt all support to South Korea’s biggest container shipping line, Bloomberg News reported. The company’s board decided on the move at a meeting in Seoul Wednesday and will file for receivership this afternoon, a spokesman said. The decision was unanimous.

Hanjin Shipping’s creditors have moved up their meeting to consider whether the cargo carrier’s restructuring plan is enough to prevent the company from facing bankruptcy and court receivership. According to The Korea Times, the date for creditors to vote on whether to put the shipper under receivership, originally set for Sept. 2, has been moved up to Tuesday, which has already begun in South Korea. The largest creditor, Korea Development Bank, had set a deadline of Sept.

The number of firms in Singapore being wound up after encountering financial trouble is set to be on a par with last year's number, which was the highest in 11 years, The Straits Times reported. These figures may even understate the levels of distress as such a formal procedure is always the last resort, industry observers note. More companies seem to be going under, and the number of these cases could creep up to higher levels than during the global financial crisis, said Mr Chua Beng Chye, partner in the restructuring and insolvency practice at Rajah & Tann.

Cash-strapped Hanjin Shipping Co. said Sunday that its creditors' extended help is crucial for its survival as its negotiations with owners of chartered ships over a cut in leasing rates and to postpone debt repayments to foreign creditors made significant progress, the Yonhap News Agency reported. The country's No.