Court approves Homeplus restructuring plan
10 Articles
10 Articles
(Seoul = Yonhap News) Reporter Lee Young-seop = The court approved the rehabilitation plan prepared by Homeplus, which is undergoing corporate rehabilitation proceedings (court receivership).
Homeplus, which is currently undergoing corporate rehabilitation proceedings, had its rehabilitation plan passed at a meeting of interested parties on the 2nd, prompting the court to issue an approval decision. On the 2nd, the 4th Rehabilitation Division of the Seoul Rehabilitation Court (Presiding Judge Jeong Jun-young) stated, “The requirements for the approval of a rehabilitation plan stipulated in the Debtor Rehabilitation Act are recognized…
The corporate rehabilitation process has begun in earnest as the Seoul Rehabilitation Court approved Homeplus's rehabilitation plan. The approval decision was made with the consent of 100% of secured creditors and 75.9% of unsecured creditors, and Homeplus plans to proceed with asset sales and business normalization in the future.
(LEAD) Court approves corporate rehabilitation plan for Homeplus
(ATTN: ADDS details; AMENDS headline)SEOUL, Sept. 2 (Yonhap) -- A Seoul court on Wednesday approved a corporate rehabilitation plan for Homeplus Co., allowing the financially troubled discount store chain to take the first step to revive its operatio
[Digital Daily Reporter Wang Jin-hwa] Homeplus, currently undergoing corporate rehabilitation proceedings, has received court approval for its rehabilitation plan. Having overcome the crisis of bankruptcy, Homeplus plans to normalize its operations by repaying debts through the sale of its own stores and pursuing mergers and acquisitions (M&A) of its hypermarket business division. On the 2nd, the 4th Rehabilitation Division of the Seoul Rehabil…
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