Seoul Court Terminates Homeplus Restructuring, Triggering 600B KRW Loan Default; MBK Must Cover Immediately

According to E-Daily, on July 6, Seoul Rehabilitation Court's decision to terminate Homeplus's restructuring program triggered an event of default (EOD) on a 600 billion KRW emergency operating fund (DIP loan) that was guaranteed by MBK Partners and company management. MBK now faces the immediate obligation to cover several hundred billion KRW in default repayment.
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