Restructuring may get a little easier, again
Law that permits 75% creditor approval could come back next month
Oct 09,2018
A law that allows companies to seek help in corporate restructuring with the agreement of just 75 percent of creditors will likely go back into effect as early as next month.
The government agreed on Monday during a cabinet meeting to the reimplementation of the Corporate Restructuring Promotion Act that ended at the end of June this year.
The law allows companies facing bankruptcy to proceed with corporate restructuring when 75 percent of financial creditors agree, a more relaxed rule than the current voluntary agreement where…
Read the full article at: http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3054020