Yuyang D&U, Decision to Commence Rehabilitation Proceedings

[Asia Economy Reporter Oh Ju-yeon] Yuyang D&U announced on the 24th that it has received a decision to commence rehabilitation proceedings from the Seoul Bankruptcy Court. The company explained, "We received a decision from the Seoul Bankruptcy Court stating that 'under Article 98, Paragraph 2, Subparagraph 2, and Article 98-2, Paragraph 2 of the Debtor Rehabilitation and Bankruptcy Act, a creditors' meeting must be held by 6 PM on July 3, 2020.'"

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