Back from the dead
Investors bruised by the Tongyang Group scandal last year watch a court decide whether to accept Tongyang’s comeback plan via a monitor at the Seoul District Court in Seocho-dong, southern Seoul, yesterday. The court accepted the revival plan based on the agreement of the majority of the company’s creditors. The company will have to repay 45 percent of the bailout in cash over the course of 10 years, while 55 percent have will be paid in stocks. [NEWS1]
with the Korea JoongAng Daily
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