A court-appointed accounting firm has recommended pursuing a merger and acquisition deal for Homeplus before the court decides on the approval of its rehabilitation plan, the Korean retailer said Thursday.
Prosecutors investigating the so-called Homeplus scandal have imposed a travel ban on Michael ByungJu Kim, chairman of MBK Partners and the alleged central figure in the case.
Homeplus, Korea’s second-largest hypermarket chain, has notified landlords of 17 leased locations that their rental contracts will be terminated, the company said Wednesday.
Prosecutors investigating the Homeplus case raided the company's headquarters on Monday, looking into allegations of fraud.
Korea's financial regulator found evidence implicating MBK Partners in Homeplus's credit rating downgrade and rehabilitation scheme.
Korean prosecutors raided the office of MBK Partners, as part of a probe into Korea Zinc, in which the private equity company has a stake, on Thursday, the Yonhap News Agency reported.
Prosecutors launched a full-fledged investigation into MBK Partners for fraud over its handling of Homeplus's corporate rehabilitation fiasco.
Investors who purchased asset-backed short-term bonds (ABSTB) linked to Homeplus filed a group complaint on Friday against MBK Partners Chairman Michael ByungJu Kim and Homeplus CEO Joh Ju-yeon.
Korea's financial watchdog discovered discrepancies between facts and explanations from MBK Partners — the country’s largest private equity — about the recent rehabilitation filing of Homeplus, the Financial Supervisory Service (FSS) said Tuesday.
Financial Supervisory Service Gov. Lee Bok-hyun ripped apart Homeplus's parent company MBK Partners over its promise to pay back creditors as the agency probes the supermarket chain's downfall for signs of fraud.
Korea JoongAng Daily Sitemap
