Homeplus Says Public Interest Creditor Consent Rate Reaches 64%... Expects Higher Final Figure

Homeplus announced today (September 2) that the consent rate for its rehabilitation plan among public interest creditors reached 64.4% following the agreement of government agencies to the installment repayment of public interest claims.

This is an increase of more than 5 percentage points from 59% on August 31.

Public interest claims include payments for goods, employee wages, various taxes, four major public insurances, and rent.

The company stated, "With government agencies participating [in agreeing to the installment repayments], the consent rate rose significantly," adding, "Considering additional consents expected before today's creditors' meeting, we anticipate the final consent rate to be even higher."

The Seoul Bankruptcy Court will hold a creditors' meeting at 3 p.m. today regarding Homeplus's rehabilitation plan to check whether each group—including holders of rehabilitation security rights, rehabilitation creditors, and shareholders—consents to the plan.

Approval requires at least 75% consent from the rehabilitation security rights holders group, at least 66.7% from the rehabilitation creditors group, and at least 50% from the shareholders group.

Subsequently, the court will decide whether to approve the rehabilitation plan based on the results of the creditors' meeting.

Although public interest creditors do not have voting rights at the creditors' meeting, the court previously required Homeplus to secure a certain level of consent from public interest creditors to gauge the feasibility of executing the rehabilitation plan.
※ Please note: This article was translated by AI and may contain errors.