South Korean Court Terminates Home Plus Restructuring Plan Citing 2 Trillion Won Funding Gap

According to MoneyToday, a South Korean court terminated Home Plus's restructuring plan on July 6, finding its financing proposal unviable. The court valued the retailer at approximately 3.68 trillion won on a liquidation basis, while determining that an additional 2 trillion won in external financing was necessary for restructuring to proceed. However, creditor Meritz Financial Group and operator MBK Partners remained at odds over funding terms, with Meritz willing to provide only 1 trillion won in emergency operating loans conditional on guarantees, while seeking full 2 trillion won commitment. The court found no concrete or realistic evidence of viable funding arrangements and deemed the restructuring plan unexecutable, effectively pushing the company toward bankruptcy proceedings.
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