I-M-TEC Reports Default on Loan Principal and Interest Amounting to 4.3 Billion Won
[Asia Economy Reporter Minji Lee] I am Tech disclosed on the 14th that there has been a delinquency on a loan amounting to 4.2 billion KRW and interest of 94 million KRW. This corresponds to 25% of the company's equity as of the end of last year.
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The company stated, "The delinquency in principal and interest payments is due to the loss of benefit of the deadline for filing for rehabilitation proceedings," and explained, "Due to the preservation order and comprehensive prohibition order by the Seoul Rehabilitation Court, the debt cannot be extended or repaid."
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