The deadline for submitting a rehabilitation plan for Homeplus Co., which is undergoing corporate rehabilitation, has been extended to the 29th of next month. This is the fifth extension.
According to legal sources on the 7th, the Fourth Division for Rehabilitation of the Seoul Bankruptcy Court (Chief Judge Jeong Jun-young) on the 6th extended Homeplus Co.'s deadline for submitting its rehabilitation plan from Nov. 10 to Dec. 29.
Homeplus Co. is pursuing a pre-approval merger and acquisition (M&A). On the 31st of last month, two parties, including Harex InfoTech and Snomaad, submitted letters of intent to acquire.
With letters of intent submitted, a preliminary due diligence (Nov. 3–21) and a main bid (on the 26th) must proceed, making an additional extension of the previously scheduled Nov. 10 deadline for submitting the rehabilitation plan necessary.
The corporations that submitted letters of intent plan to decide by the 26th whether to submit their final bid proposals after due diligence.