Court order for submission of a rehabilitation plan
2014-11-25 8,845


Seoul Central District Court

The 6th Bankruptcy Division

Decision

 


Case No.    :    2014 Hoehab 100101 Rehabilitation    

Debtor      :     Nexolon CO., LTD.

                    291 Seodong-Ro, Iksan City(Sinheung-Dong)

Custodian   :    Woo Jeong Lee

 


Main Decision

 
Custodian of the Debtor is hereby ordered to submit to this Court a rehabilitation plan to address the continuation of the Debtors business through means such as the continuing existence of the Debtor, shares swap, transfer of shares, merger, division, merger after division, establishment of a new company or transfer of business no later than by December 19, 2014.

 


Reason

 

As this Court acknowledges that the Debtors going concern value exceeds its liquidation value, this Court renders its decision as provided above under the Main Decision pursuant to Article 220 (1) of the Debtor Rehabilitation and Bankruptcy Act.

 


November 21, 2014


 

Presiding Judge  Judge   Jun Yoon         

           Judge   Jae Hee Lee      

           Judge   Ji Hyun Min