[Asia Economy Reporter Minji Lee] Yuyang D&U announced on the 14th that it has submitted a petition to terminate the rehabilitation procedure to the Seoul Bankruptcy Court.
The company explained, "During the rehabilitation process, prior to approval, we signed an investment contract with the 'Act Consortium' through a merger and acquisition. The payment of 59 billion KRW for the paid-in capital increase has been completed, and management has been normalized through the stable shareholding and management participation of the acquirer."
The company stated that it will immediately disclose any court decision regarding the petition to terminate the rehabilitation procedure.
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