Practices
Filing for Commencement of Corporate Rehabilitation Proceeding
EHoo’s Corporate Restructuring Team advises and represents debtor corporations and creditor financial institutions with respect to filing for commencement of rehabilitation proceeding and ancillary provisional orders, petition for comprehensive injunctive order, filing of creditor’s claims, and preparation of rehabilitation plans.
EHoo can also assist clients with possible M&A either in the middle of the proceeding or prior to the commencement of the proceeding.
Recent trend in rehabilitation proceeding is early discharge through M&A rather than going through the traditional rehabilitation proceeding. EHoo is on the cutting edge of the corporate rehabilitation and can lead our clients to the most of successful path.
Work Out
When there is an agreement between a debtor and creditor, a private insolvency program commonly referred to as workout can take place instead of a court proceedings under the the Debtor Rehabilitation and Bankruptcy Act.
At the present time, workout programs led by major creditor banks are carried out pursuant to the Corporate Restructuring Promotion Act (provisional law).
Unlike the court proceedings which require strict compliance with the directives from the judge, a workout is carried out pursuant to the agreement with creditors including large banks. So, it is important to delicately adjust business aspects of debtors, manage of insolvency risks and the interests and rights of employees. EHoo’s Corporate Restructuring Team provides clients with comprehensive services for successful completion of workout with our wealth of experience and knowledge accumulated over the years.
M&A in connection with Corporate Rehabilitation Proceeding
Unlike typical M&A’s, those occurring in the course of rehabilitation proceedings must follow the court's directives and thus attorneys must have expertise in both insolvency proceedings and traditional deal structure. Our team has a wealth of experience and knowledge to represent various interested parties in M&A's from rehabilitation proceedings
Actions in connection with
Corporate Rehabilitation Proceeding
Claims of creditors and security rights arising out of rehabilitation proceeding are subject to a set of rules and regulations under the Debtor Rehabilitation and Bankruptcy Act which is completely different from the general civil procedures. EHoo’s professionals provide timely advisory services to clients in connection with each phase of the rehabilitation proceedings and represent interested parties in various litigations incidental to such proceedings.
Our track record speaks for itself. In 2013, EHoo obtained a court decision for a VC fund in which the court recognized a put option worth KRW 50 billion as a valid liability payable to the VC fund as part of the rehabilitation process.
Advisory Services in connection with Bankruptcy Proceeding
EHoo can assists clients from the filing for insolvency proceeding through discharge.