Bankruptcy Court Archives | Be Korea-savvy

Court Picks KG Consortium as Preliminary Bidder for SsangYong Motor

SEOUL, May 13 (Korea Bizwire) — A Seoul court on Friday selected a local consortium led by chemical-to-steel firm KG Group as the preliminary bidder for SsangYong Motor ahead of the auction beginning later this month to find a new investor for the carmaker. The new auction comes two months after local electric bus maker [...]

CORRECTED PRESS RELEASE – Seabras Group Subsidiaries Emerge from Chapter 11

BOSTON, July 10 (Korea Bizwire) – Emergence from Chapter 11 At a hearing on June 30, 2020, the U.S. Bankruptcy Court for the Southern District of New York confirmed the joint Plan of Reorganization (the “Plan”) of Seabras 1 USA, LLC and Seabras 1 Bermuda Ltd. (the “Companies”). On July 07, 2020, the Companies [...]