Restructuring/Insolvency Department

Overview

The firm’s Corporate Restructuring team provides fair shares of advice for both debtors and creditors. Main clients from the creditors’ side include financial institutions such as Woori Bank, Shinhan Bank and Meritz Securities. On the other hand, the firm is a specialist in providing general advice for a number of corporations from medium-sized companies to conglomerates in Korea as debtors with regards to its restructuring process (i.e. workout, reorganization procedures) and related litigations. Representative clients include STX Engine, Samjong KPMG Accounting, Sungdong Shipbuilding & Marine Engineering and Daewoo Information System.

The team has a significant portion of insolvency disputes in Korea. Former insolvency judge, Junsang Lee and former judge Sang-Goo Han are veterans who has a wealth of experience in contentious matters for clients involving a rehabilitation proceedings and workout procedures.

In addition, the team has significant experience and expertise in the field of M&A of companies under restructuring proceedings. The team has successfully closed a large number of such M&A deals, which include leading M&A cases of companies under restructuring proceedings.

Furthermore, the firm has profound internal expertise in handling cross-border insolvency. The firm has represented Korean clients in a handful of cases where the receiver of the U.S. debtor applied to the Korean court for recognition of the U.S. insolvency proceedings in Korea and for supportive orders.

Members

Han, Sang-Goo (Head of Department)

Jo, Joon Oh

Kim, Sangman

Ryu, Jungseok

Clients

Daewoo Information Systems Co.,Ltd.

Meritz Securities

Metanet Security Co., Ltd.

Seoul Guarantee Insurance Company

Shinhan Bank

STX Engine Co., Ltd.

Sungdong Shipbuilding & Marine Engineering Co., Ltd.

Taesung Accounting Corp

Woori Bank