DA Technology announced on the 2nd that a dishonor of its own issued promissory notes amounting to 10,434,200,000 KRW has occurred.
The company stated, "Due to the property preservation order and comprehensive injunction decision by the Suwon Rehabilitation Court on the 24th of last month, we were unable to extend the debt or make payments, resulting in non-settlement by the 2nd of this month. Accordingly, on the 2nd of this month, the dishonor was confirmed as a legal payment restriction (legal limitation) under Article 67 of the Enforcement Rules of the Promissory Note Exchange Business Regulations."
They added, "The dishonor remains valid until the decision to commence rehabilitation proceedings," and "According to Article 89 of the Enforcement Rules of the Promissory Note Exchange Business Regulations, this does not constitute grounds for transaction suspension due to final dishonor."
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