Search results for Seoul Rehabilitation Court
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.
Telecommunications & Media
Korea broadcast regulator sets up task force over JTBC rehabilitation filing
South Korea\'s Broadcast Media Telecommunications Commission has formed a task force to monitor JTBC\'s rehabilitation filing, its chairman said at a full commission meeting. He said the regulator will closely review preparations so there is no disruption amid debate over universal viewing rights for the World Cup host broadcaster. Commissioners called for documents, scenario planning and possibly a CEO hearing. The commission also ordered corrective measures for terrestrial broadcasters and fined PP IHQ 10 million won.
