JTBC to be interrogated by court representatives today (23rd) as restructuring process officially begins

*This content was translated by AI.

Representative interrogations for JTBC and other Central Group affiliates, which declared default and filed for court receivership, will be held at the court.

The Seoul Bankruptcy Court's Restructuring Division 2 will sequentially conduct representative interrogations for Central Holdings, Central P&I, JTBC, Megabox Central, and Contentri Central starting at 10 a.m. on the 23rd.

At JTBC, Director Jeon Jin-bae (CEO) and Director Nam Jung-kwon Gyeong Yeong-ji-won (Head) are scheduled to appear, while Director Kim Gi-hyeon (CEO) will attend on behalf of Central Holdings and Central P&I. Megabox Central and Contentri Central will have Director Hong Jeong-in (CEO) appear at the court alongside each company's co-representatives.

During the interrogations, discussions are expected to focus on each company's debt scale, financial status, and debt restructuring plans.

JTBC declared default on the 12th after failing to repay a total of 20.6 billion won in securitized loans upon maturity. JTBC stated, "We will do our utmost to resolve this situation as quickly as possible by mobilizing all available means internally and externally with a responsible attitude," and added, "Broadcast content production and airing, including news and major sports broadcasts, will continue to operate normally."

Five Central Group affiliates, including JTBC, are facing a financial crisis. Subsequently, on the 14th, Central Holdings, Contentri Central, Central P&I, and Megabox Central filed applications to initiate restructuring proceedings.

On the 14th, JTBC submitted an application to the court to suspend the initiation of restructuring proceedings and expressed its desire to participate in the Autonomy Restructuring Support (ARS) program. ARS is a system where the court suspends the mandatory initiation of restructuring proceedings and supports companies and creditors in negotiating restructuring autonomously. If the court approves the ARS program, the initiation of restructuring proceedings can be suspended.

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*This content was translated by AI.