After the Seoul Bankruptcy Court decided to terminate rehabilitation proceedings, Hyundai Card and Samsung Card notified that they would withhold payments to Homeplus Co. for offline affiliate merchants. Homeplus Co. on the 6th called it an "unfair measure" and demanded an immediate reversal.
In official letters sent by the two card companies, they said that along with ending the point partnership contract for the Homeplus Co. online mall, they would implement withholding and setoff of payments to offline affiliate merchants to handle unpaid balances and canceled sales both online and offline.
Homeplus Co. says the card companies' measures have no legal effect. Although the Seoul Bankruptcy Court decided on the 3rd to terminate the rehabilitation proceedings, an immediate appeal is allowed within 14 days from the date of notice. The company said, "The decision to terminate rehabilitation takes effect only when it is finalized, and because the period for immediate appeal remains, the rehabilitation proceedings continue," and argued, "The card companies' notice ending the point partnership contract on the grounds of the termination decision fails to meet the requirements and has no effect."
It added that, especially given that credit purchases are not possible offline and that online operations have been halted for a third day, making order cancellations impossible, the very idea of withholding payments on the grounds of handling unpaid balances and canceled sales "makes no sense."
A Homeplus Co. official said, "Withholding payment for reasons that make no sense is an unfair measure, and if card companies' withholding blocks the recovery of card proceeds, we cannot operate." The official added, "Even after the court's decision to terminate the rehabilitation proceedings, every employee is doing their utmost to the end without letting go of the thread of hope; far from helping, they should not douse the rehabilitation efforts with cold water for reasons that make no sense," demanding an immediate reversal.