International shipfinance lenders have complained they were ignored and held hostage to the all-South Korean stalemate between Hanjin Shipping — which filed for court receivership this week — and Korea Development Bank (KDB).
However, the parties to the Korean side of the dispute say the question was ultimately political, with no government official willing to stick their neck out for a shipping company after the indictment of KDB executives in connection with shipbuilding finance practices.
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