The COVID-19 pandemic has brought disruption and economic hardship to several businesses around the globe. In Brazil, the effects of lockdown and restriction measures by the Governments have caused numerous companies to file for bankruptcy or judicial reorganisation, the latter being the legal restructuring instrument which aims to assist companies to continue their activities and avoid becoming bankrupt.

Relevant Aspects of the Judicial Reorganisation process

Hanjin Shipping's financial collapse has been well publicised. As a consequence of its collapse one can anticipate that there will be displaced containers worldwide with Hanjin vessels being arrested short of or at destination, being moored up or remaining outside port limits to avoid arrest or being stuck at a port short of destination with the port authority unwilling to provide port services absent payment in advance. One press report we have seen suggests that in excess of 500,000 TEUs already loaded on Hanjin vessels may be subject to delay.