The court docket declared chapter for Interpark Commerce, which has been fighting monetary difficulties, on Dec. 16.
The Seoul Rehabilitation Court docket’s ruling comes 1 12 months and 4 months after the corporate filed for rehabilitation proceedings with the court docket final 12 months. Collectors can file their claims till Feb. 20 subsequent 12 months. The collectors’ assembly and debt investigation will likely be held on March 17 subsequent 12 months. Procedures will likely be carried out to find out resolutions concerning enterprise closure and continuation, in addition to to establish collectors and debt quantities.
Interpark Commerce is a home e-commerce subsidiary underneath Qoo10 Group. The corporate struggled with monetary difficulties following the accelerated departure of sellers and prospects after the large-scale unsettled fee disaster at TMON and WeMakePrice, each e-commerce subsidiaries of Qoo10 Group, in July final 12 months. Consequently, Interpark Commerce filed for the autonomous restructuring assist (ARS) program company rehabilitation process with the court docket in August of the identical 12 months. After failing to search out acquisition candidates following the graduation of rehabilitation proceedings, the court docket determined to terminate the rehabilitation process on Dec. 1.
