Law firm Barun said on the 2nd that it will hold a webinar at 2 p.m. on the 16th under the theme "Legal response strategies in an era of surging rehabilitation and bankruptcy: Focusing on analysis of the latest systems and practical cases."
The webinar was prepared to examine normalization plans for debtor corporations and strategies to protect creditors' rights as liquidity crises at corporations and applications for rehabilitation and bankruptcy increase.
According to court statistics, applications for corporate rehabilitation increased from 717 in 2021 to 1,321 last year. In the first half of this year, 731 were filed. Applications for corporate bankruptcy rose from 955 in 2021 to 2,282 last year, and reached 1,299 in the first half of this year.
The webinar will cover avoidance rights and reclamation rights at issue in rehabilitation proceedings, recently introduced insolvency systems, and practical response measures to raise recovery rates on claims. An avoidance right is a system that allows the effects to be denied when, before rehabilitation proceedings begin, a debtor transfers assets to a specific creditor or repays debts, thereby acting to the detriment of other creditors. A reclamation right refers to the right to recover, outside rehabilitation or bankruptcy proceedings, property that the debtor possesses but actually belongs to someone else.
Cho Dong-hyeon, head of Barun's rehabilitation and bankruptcy team, will present "Game changer in the rehabilitation and bankruptcy phase: Practical strategies for avoidance and reclamation rights." Attorney Lee Eung-gyo will explain "Pre-ARS and hybrid restructuring and a creditor-led M&A plan," and attorney Park Gyu-hee will explain "Practical response strategies by creditors to maximize claim recovery rates." After the presentations, a Q&A will follow, moderated by attorney Park Je-hyung.
The webinar will be streamed live on YouTube and there is no participation fee. A connection link will be provided to advance registrants the day before the event.