Korea Daewoo sales company insolvency applications submitted
Claims by the Korea Development Bank, led mission 8, announced that the Korea Daewoo Motor Sales Corp as unable to repay the debt due within this month, and on the brink of risk, in the morning to his debt restructuring for mission.
Daewoo Motor Sales Corp claims mission on December 14, will convene a meeting of this agreement apply to discuss voting, such as 75 per cent of debt finance enterprises agree that the company will be restructured.
Korea Development Bank is the Daewoo Motor Sales Corp's major creditor banks. Row 7, said that 50 per cent of debt financial firms agree to Daewoo Motor Sales Corp deferred repayment of the debts, was deferred until the time of provisional credit mission agreement as of the date of the meeting.
Daewoo Motor Sales Corp in 1993 from Daewoo automobile sales section, become Korea's first automobile sales specialized company. The disintegration of the Daewoo Group in 1999, Daewoo automobile sales company for corporate restructuring for the first time, after the November 2002 proposed reorganization application again. If this application is approved, the restructuring of its debt repayment period will be extended for three months, during which the claim against the company will be listed, and how to resume normal operation. (Old pottery collection)