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Hynix Creditors Deny Rumor

May 05,2001
Creditors of Hynix Semiconductor Inc. on Friday denied they were considering court receivership for the troubled company. The hesitancy of investment trust firms to provide support to the chipmaker had kindled rumors that it was headed for court protection.

The creditors warned investment trust companies this week that receivership was inevitable if Hynix failed to attract foreign investment due to a lack of support from domestic financial firms.

"We believe that those comments sparked the rumors," an official from the creditors said. "But we are now wrapping up talks with the trusts and look forward to providing Hynix with additional assistance."



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