YOON&YANG
Given the ongoing COVID-19 pandemic and resulting liquidity shortfalls, the number of marginal businesses suffering economically is expected to grow. Accordingly, corporate restructuring, bankruptcy, and workouts are likely to gain importance. Yoon & Yang’s Corporate Law Practice, drawing from its knowledge and experience in bankruptcy laws including the Corporate Restructuring Promotion Act, corporate law, and financial regulations, as well as relevant networks, offers comprehensive legal services from filing bankruptcy to obtaining a discharge and advises on rehabilitation M&A, corporate reorganization for businesses at risk of bankruptcy, and workouts.

Key Services

Corporate rehabilitation and bankruptcy

  • Conducting legal assessment of companies at risk of bankruptcy and providing appropriate rehabilitation measures
  • Providing legal advice and handling litigation related to rehabilitation and bankruptcy proceedings
  • Providing legal advice to protect interests of creditors in bankruptcy proceedings, including filing of rehabilitation and bankruptcy claims
    • Providing legal advice on business transfer before obtaining approval for rehabilitation plans
    • Providing legal advice on M&A based on rehabilitation plans
    • Providing legal advice on creditor-led M&A based on pre-packaged plans
    • Providing legal advice on M&A after obtaining approval for rehabilitation plans
      • Advising on the Corporate Restructuring Promotion Act and other relevant regulations
      • Performing legal due diligence of companies with insolvency risk and advising on domestic and foreign M&As
      • Drafting agreements to implement business normalization plans and advising on related negotiations

Representative Cases

  • Advised STX Engine on bankruptcy and liquidation of its Norwegian subsidiary
  • Advised POSCO Plantec on workout completion and investment attraction
  • Advised foreign creditors on SsangYong Motor’s rehabilitation procedures
  • Advised MSC on acquisition of interests in Hanjin Shipping’s Long Beach Terminal
  • Represented Jau Tour in rehabilitation application filing and advised on rehabilitation procedures, including rehabilitation M&A
  • Advised K-SWISS on rehabilitation of Hwaseung Corp.
  • Represented Woori Bank and Shinhan Bank in litigation regarding claim purchase request made in a workout
  • Advised Qualcomm on debt collection and acquisition of new shares through a debt-equity swap with Pantech and Pantech & Curitel