Seoul Rehabilitation Court Extends Interpark Commerce Self-Restructuring Period by One More Month

The court has decided to further extend the self-restructuring program of Interpark Commerce, an affiliate of Quten Group, which triggered a "large-scale non-settlement crisis."

The Seoul Rehabilitation Court said today (23rd) that Interpark Commerce is conducting due diligence for the merger and acquisition process by continuing negotiations with potential investors and selecting a sales manager, and decided to extend the opening and holding period for another month until November 23.

Interpark Commerce then explained that it will complete due diligence work in the extended period and specify negotiations with candidates and investors through a sale manager.

The self-restructuring program is a system in which the company autonomously consults with creditors on reimbursement plans, and the decision to start rehabilitation can be delayed for up to three months on a monthly basis.

Earlier on the 23rd of last month, the court also extended the opening and holding period of Interpark Commerce by one month.