Search results for DIP financing
Finance
Meritz urges MBK to play responsible role after Homeplus rehabilitation terminated
Meritz Financial Group said it regretted a court decision to terminate Homeplus\' rehabilitation procedure and urged majority shareholder MBK Partners to play a responsible role. Meritz said it had done as much as possible as a creditor within legal limits, including cooperation on a stay on collateral execution and a 100 billion won DIP financing escrow. It also said Chairman Kim Byung-ju has not guaranteed the DIP funding.
Finance
Can Homeplus be rehabilitated? Meritz and MBK escalate clash over responsibility for returns
A dispute between Homeplus\' controlling shareholder MBK Partners and its largest creditor, Meritz Financial Group, is intensifying over responsibility for funding emergency operating money needed for rehabilitation. The Seoul Rehabilitation Court has asked Homeplus to submit a 200 billion won financing plan by June 30, ahead of a July 3 deadline to approve the rehabilitation plan. Prosecutors’ investigation into alleged concealment tied to short-term securities issuance is also emerging as a variable.
Finance
Meritz Financial considers 100 billion won support for Homeplus, subject to MBK and Kim Byung-joo guarantees
Meritz Financial Group is considering providing 100 billion won in emergency operating funds to help normalise management at Homeplus. The group said on June 11 it is reviewing DIP financing to support stable business operations. Meritz Securities said it is checking specific guarantee terms after meeting several Democratic Party lawmakers. Meritz said guarantees from MBK headquarters and MBK Chairman Kim Byung-joo are needed given legal constraints under recently revised commercial law.
