It was reported on July 15 that MBK Partners, the major shareholder of Homeplus, and Meritz Financial Group, its largest creditor, have significantly narrowed their differences regarding the method of providing 200 billion won in emergency funds necessary for the company's recovery.
According to labor and financial industry sources, the two sides have reportedly found a point of agreement where Meritz Financial Group will provide a Debtor-in-Possession (DIP) loan if MBK Partners provides a guarantee for the 200 billion won.
If Meritz Financial Group approves this plan at its board meeting tomorrow morning (July 16), Homeplus will be able to reverse the existing decision to terminate its rehabilitation proceedings through procedures such as filing an immediate appeal.
In this case, there is a possibility that Homeplus will resume the rehabilitation process.
The deadline for filing an immediate appeal against the decision to terminate Homeplus's rehabilitation proceedings is July 20.
The tentative agreement between MBK Partners and Meritz Financial Group was reached during a meeting arranged by the Euljiro Committee.
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