The court has decided to terminate the rehabilitation proceedings for Interpark Commerce, which has been experiencing a liquidity crisis in the aftermath of the Tmon-Wemakeprice (Timape) incident.


According to the legal community on December 1, the 3rd Division for Rehabilitation at the Seoul Bankruptcy Court (Chief Judge Jung Junyoung, Senior Judges Lee Yeo-jin and Lee Youngnam) decided on this day to end the rehabilitation process for Interpark Commerce. Observers note that this effectively puts the company on the path to bankruptcy.


Like Tmon and Wemakeprice, Interpark Commerce-an e-commerce platform under Qoo10 Group in Korea-has suffered a severe cash crunch since mid-November, when a large-scale non-settlement incident occurred at Tmon and Wemakeprice, leading to a chain reaction of sellers and customers leaving the platform.


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As a result, Interpark Commerce entered rehabilitation proceedings in November last year and sought potential buyers, but reportedly failed to find any in the end.

Court Decides to Terminate Rehabilitation Proceedings for Interpark Commerce View original image


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