EMW Files Application for Termination of Rehabilitation Proceedings at Seoul Rehabilitation Court
[Asia Economy Reporter Minji Lee] EMW announced on the 6th that it has filed for the termination of rehabilitation proceedings at the Seoul Bankruptcy Court.
The company stated, "Since the approval of the rehabilitation plan, we have been fully carrying out all procedures according to the plan," and added, "There are no reasons that hinder the execution of the rehabilitation plan, so we have applied for termination."
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EMW received approval for the rehabilitation plan on the 24th of last month. The total amount of claims to be repaid was KRW 2,239,927,000, and as of the termination application date, 62% has been repaid, reducing the amount to KRW 1,389,060,000. The remaining unpaid claims are planned to be repaid on this year's repayment due date.
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