Following failed efforts, in April 2016, for a creditor-led debt restructuring to avoid bankruptcy, Hanjin Shipping Lines formally filed for bankruptcy protection in federal court in New Jersey pursuant to Chapter 15 of the Bankruptcy Code. This follows Hanjin’s filing in South Korea for receivership. Hanjin is the seventh-largest shipping company, representing some 7% of…
In response to rising fatalities and injuries in the 1970s the Consumer Products Safety Commission moved to ban, for example, cherry bombs, M-80s, and other fireworks that were designed and intended to produce an audible effect. To that end, CPSC, under the Federal Hazardous Substances Act, ultimately banned all fireworks devices intended to produce an…
