ClassHankyul’s Corporate Restructuring Team consists of attorneys with experience serving as a trustee in bankruptcy, including the first chief judge of the Seoul Bankruptcy Court, attorneys specializing in corporate restructuring, accountants, and other professionals with rich hands-on experience and networks in courts and government agencies. The team offers integrated services covering the entire corporate restructuring process including: normalization support for and structural review of companies subject to restructuring; application for commencement of rehabilitation, bankruptcy, or workout procedure; assistance in drafting of various documents and legal advice following commencement of procedure; advisory services regarding the sale or acquisition of companies subject to restructuring, including rehabilitation M&A; rehabilitation supporting for companies subject to restructuring, including escrow services following the approval of rehabilitation plans.
These insolvency and corporate restructuring proceedings involve the interests of various stakeholders, including companies, shareholders, and creditors, as well as courts and government agencies, M&A acquirers, investors, and funders, and require not only legal analysis and application of various laws and precedents, such as the Debtor Rehabilitation and Bankruptcy Act, the Corporate Restructuring Promotion Act, the Commercial Act, the Financial Investment Services and Capital Markets Act, etc., but also a deep understanding of companies and industries in general, court practices, and the direction of various institutions and government policies.
ClassHankyul's Corporate Restructuring Team is committed to contributing to the practical resolution of disputes and the normalization of insolvent companies by seeking and proposing optimal coordination methods that satisfy all stakeholders, rather than merely providing legal advice, based on our extensive practical experience and knowledge of relevant laws, precedents, and theories.
Introduction
Major Business
Review of restructuring options
- Review and recommendation of the optimal restructuring plan for the company subject to be restructured
- Assistance in the implementation of the proposed restructuring options
Investments in restructured companies
- Investment in non-performing loans (NPLs): NPL transfer, asset securitization, rights analysis
- Investment in and exit from restructured companies: acquisition of new shares/corporate bonds, transfer of old shares and management rights, asset and business transfers
Rehabilitation
- Application for initiation of rehabilitation proceedings: preparation of application for initiation, application for initiation, preservative measures, comprehensive injunction, interrogation of representatives, etc.
- Advice and litigation in connection with rehabilitation proceedings, including: adjustment, preparation of rehabilitation plans, bond filings, judgment on the evidence, disclaimers, disclaimers proceedings, preparation of legal opinions to the court, consultation with the court, administrators, creditors and other interested parties, and immediate appeals against (compulsory) confirmation decisions.
- M&A in rehabilitation proceedings: review of transaction structure, due diligence and advice on acquisition/sale of rehabilitated companies
- Supporting the execution and completion of rehabilitation proceedings: escrow support, interpretation of rehabilitation plans, advising on the execution and completion of rehabilitation plans, and filing for termination of rehabilitation proceedings
Bankruptcy proceedings
- Bankruptcy petition
- Advice and litigation related to bankruptcy proceedings: , judgment on the evidence, disclaimers proceedings, transfer of assets of insolvent entities, consultations with courts and bankruptcy trustees
- Performing bankruptcy trustee's duties
Workout
- Advice and litigation related to workout proceedings: advice to creditors and workout entities on workout proceedings, litigating among creditors, and between creditors and workout entities, and advice on investments in and M&A for workout entities
- Support for performing and closing workout procedures
Others
- Personal rehabilitation
- Personal bankruptcy
- Inheritance bankruptcy
- Review and recommendation of the optimal restructuring plan for the company subject to be restructured
- Assistance in the implementation of the proposed restructuring options
Investments in restructured companies
- Investment in non-performing loans (NPLs): NPL transfer, asset securitization, rights analysis
- Investment in and exit from restructured companies: acquisition of new shares/corporate bonds, transfer of old shares and management rights, asset and business transfers
Rehabilitation
- Application for initiation of rehabilitation proceedings: preparation of application for initiation, application for initiation, preservative measures, comprehensive injunction, interrogation of representatives, etc.
- Advice and litigation in connection with rehabilitation proceedings, including: adjustment, preparation of rehabilitation plans, bond filings, judgment on the evidence, disclaimers, disclaimers proceedings, preparation of legal opinions to the court, consultation with the court, administrators, creditors and other interested parties, and immediate appeals against (compulsory) confirmation decisions.
- M&A in rehabilitation proceedings: review of transaction structure, due diligence and advice on acquisition/sale of rehabilitated companies
- Supporting the execution and completion of rehabilitation proceedings: escrow support, interpretation of rehabilitation plans, advising on the execution and completion of rehabilitation plans, and filing for termination of rehabilitation proceedings
Bankruptcy proceedings
- Bankruptcy petition
- Advice and litigation related to bankruptcy proceedings: , judgment on the evidence, disclaimers proceedings, transfer of assets of insolvent entities, consultations with courts and bankruptcy trustees
- Performing bankruptcy trustee's duties
Workout
- Advice and litigation related to workout proceedings: advice to creditors and workout entities on workout proceedings, litigating among creditors, and between creditors and workout entities, and advice on investments in and M&A for workout entities
- Support for performing and closing workout procedures
Others
- Personal rehabilitation
- Personal bankruptcy
- Inheritance bankruptcy
Major Performance
Petition for the commencement of rehabilitation
- Handled petitions for rehabilitation for Shinsegae Development, Jinro Industries, Daea Lead Wire, Seoul Telecom, Millennium Comprehensive Development, Jeil Direct, B.A.T., Gulbee Nara, B.R.N. Science, Ace Steel, Boosung EnterTech, Yukwon Development, Namgwang Construction, Seohyun Foundation, Kyungan Construction, etc.
Application for the abolition of rehabilitation
- Imdong, Gumsung Textile, Daeryuk Metals, Mekania, Samjung Steel, Seven Star, Jy Natural, Young Poong Pile, Joongang Products, Chew Young Room, etc.
Advise on M&A, investments in and divestitures of rehabilitated or workout companies
- Provided investment and acquisition advisory for KHE, Shinhan Heavy Industries, Shinhan Precision Industries, Carpro, Seha, Paper Korea, Young Hwa Con & Eng, Miju Steel, Mook, Sungwoo Engineering, JMC Heavy Industries, Sanbon Station, Miju Steel, Sampo Industries, Dynamac, Gwangsan, Woosung Woolen, Segi Recycling Technology, Hyundai IT, Etronics, Chonggu, Seoul Cast Iron Industry, Daenong, etc.
- Advised on the sale of Mercury, Fine Suntronix, Semo Shipbuilding Division, Anam Construction, etc.
Advice and litigation related to rehabilitation proceedings
- Advised Bumyang Construction, Maxrotech, etc. on preventing rehabilitation approval
- Appealed compulsory approval for Jinro Industry, Hansarang Asan Medical Center, Mecatec, etc.
- Various judgments on the evidence, avoidance actions
Bankruptcy petition
- Lovely Shoes, KHE Engineering, Ethan F&C, Sujung, P.I. Partners, A Innovation, UNS Asset, Metropia, Xpet Technology, Iroom I&C, Sungjun Industry, Daedong Electronics Industry, RF Korea, E Logistics, Park Max, etc.
- Handled petitions for rehabilitation for Shinsegae Development, Jinro Industries, Daea Lead Wire, Seoul Telecom, Millennium Comprehensive Development, Jeil Direct, B.A.T., Gulbee Nara, B.R.N. Science, Ace Steel, Boosung EnterTech, Yukwon Development, Namgwang Construction, Seohyun Foundation, Kyungan Construction, etc.
Application for the abolition of rehabilitation
- Imdong, Gumsung Textile, Daeryuk Metals, Mekania, Samjung Steel, Seven Star, Jy Natural, Young Poong Pile, Joongang Products, Chew Young Room, etc.
Advise on M&A, investments in and divestitures of rehabilitated or workout companies
- Provided investment and acquisition advisory for KHE, Shinhan Heavy Industries, Shinhan Precision Industries, Carpro, Seha, Paper Korea, Young Hwa Con & Eng, Miju Steel, Mook, Sungwoo Engineering, JMC Heavy Industries, Sanbon Station, Miju Steel, Sampo Industries, Dynamac, Gwangsan, Woosung Woolen, Segi Recycling Technology, Hyundai IT, Etronics, Chonggu, Seoul Cast Iron Industry, Daenong, etc.
- Advised on the sale of Mercury, Fine Suntronix, Semo Shipbuilding Division, Anam Construction, etc.
Advice and litigation related to rehabilitation proceedings
- Advised Bumyang Construction, Maxrotech, etc. on preventing rehabilitation approval
- Appealed compulsory approval for Jinro Industry, Hansarang Asan Medical Center, Mecatec, etc.
- Various judgments on the evidence, avoidance actions
Bankruptcy petition
- Lovely Shoes, KHE Engineering, Ethan F&C, Sujung, P.I. Partners, A Innovation, UNS Asset, Metropia, Xpet Technology, Iroom I&C, Sungjun Industry, Daedong Electronics Industry, RF Korea, E Logistics, Park Max, etc.
