Seoul Rehabilitation Court Approves Eastar Jet Rehabilitation Plan... 82.04% of Creditors in Favor
[Asia Economy Reporter Kim Hyung-min] The court has approved the rehabilitation plan for Eastar Jet, which is undergoing corporate rehabilitation proceedings.
The Seoul Bankruptcy Court Rehabilitation Division 1 (Chief Judge Seo Kyung-hwan, Judges Jeon Dae-gyu and Kim Chang-kwon) held a creditors' meeting on the 12th and made this decision.
At the creditors' meeting, 82.04% of the rehabilitation creditors approved the rehabilitation plan, meeting the approval requirement (two-thirds or more).
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The court explained, "The revised rehabilitation plan in this case is recognized to meet the requirements for approval of a rehabilitation plan as stipulated in Article 243, Paragraph 1 of the Debtor Rehabilitation and Bankruptcy Act."
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