Homeplus may be rescued... MBK Kim Byeong-ju (Chairman) declares intent to guarantee full 200 billion won

*This content was translated by AI.

Homeplus, which was facing bankruptcy, has secured a last chance to continue its rehabilitation process as it becomes increasingly likely to obtain 200 billion won in emergency operating funds (DIP).

MBK Partners Kim Byeong-ju (Chairman), the largest shareholder, announced on the 15th its intent to guarantee the full 200 billion won, which was the core condition for financial support. Meritz Financial is scheduled to hold a board meeting on the 16th to deliberate on an additional emergency operating fund support plan totaling 200 billion won for Homeplus.

Including existing support, the total amount of emergency operating funds that Homeplus can secure is 200 billion won.

Earlier, the Seoul Bankruptcy Court decided on the 3rd to terminate the rehabilitation proceedings for Homeplus but left room for reconsideration if 200 billion won in emergency operating funds were raised before the deadline for immediate appeal on the 20th.

Subsequently, MBK Partners and Meritz Financial, the largest creditor, continued negotiations over financial support conditions, but disagreements over guarantee methods led to discussions of a possible bankruptcy.

However, with Kim Byeong-ju (Chairman) taking a stance to guarantee the full 200 billion won in emergency operating funds, the fundraising negotiations gained momentum.

If the additional support plan is approved at Meritz Financial's board meeting, Homeplus is expected to secure 200 billion won in operating funds by the 16th.

This amounts to having laid the final groundwork for continuing the rehabilitation process by narrowing differences regarding last-minute fundraising. However, since the final approval procedure of Meritz Financial's board remains at this stage, it is difficult to definitively conclude that financial support has been secured.

If Meritz Financial's board approves the support plan and actual fund disbursement takes place, Homeplus is expected to file an immediate appeal with the court and push to resume rehabilitation proceedings.

Some point out that even if Homeplus secures 200 billion won in emergency operating funds, it may only be a measure to overcome immediate liquidity crises, and there are still significant challenges to fully recover.

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.