Extended Until the 29th of Next Month... Fifth Extension
M&A Pursued Before Plan Approval
Two AI Companies Submit Letters of Intent
The deadline for submitting the rehabilitation plan for Homeplus, which is currently undergoing corporate rehabilitation proceedings, has been extended once again to the 29th of next month.
According to the legal community on November 6, the Rehabilitation Division 4 of the Seoul Bankruptcy Court (Chief Judge Jeong Junyoung) decided on this day to extend the deadline for Homeplus to submit its rehabilitation plan from the 10th of this month to the 29th of next month.
The court has now extended the submission deadline for the rehabilitation plan a total of five times, including this latest extension, from the original deadline of June 3.
Homeplus is currently seeking potential buyers as it pursues a merger and acquisition (M&A) before the approval of its rehabilitation plan. Recently, two artificial intelligence (AI) companies submitted letters of intent to acquire the company, and Homeplus plans to receive final bids on the 26th after conducting preliminary due diligence.
On March 4, Homeplus filed for corporate rehabilitation proceedings as a preemptive restructuring measure, and the court subsequently decided to commence the rehabilitation process.
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