[South Korea's Choice Financial newspaper reporter] yidonggeol Development Bank President (picture), 23 days 'did not correspond to the judgment creditor a long-term market sluggish and the inherent risks of Daewoo Shipbuilding Shipbuilding's more conservative' he said.
The largest shareholder and main creditor bank, KDB Daewoo Shipbuilding day announced the "Daewoo Shipbuilding restructuring plan 'headquarters in Yeouido, Seoul.
Yidonggeol president at the press conference said, "it is very sorry." Last October 2015 standing 4 trillion fit in the annex to the meeting Daewoo Shipbuilding, etc. will be $ 11.5 billion of new orders 200 billion won support this decision dwaeteuna actually geuchyeotgo to winning the $ 1.5 billion in just 1 year 5 months' additional taxpayer money committed no "the situation is reversed promise.
Day, according to conservative assumptions of a public accounting firm to the photorealistic results with the premise of lack of funds Daewoo Shipbuilding was expected to occur 5.1 trillion won next year. Yidonggeol Chairman explained with additional support background said "if you do not repay the bonds maturing in April Daewoo Shipbuilding will inevitably go bankrupt."
Yidonggeol President appealed to "share the pain of stakeholders, including national banks as well as commercial banks, sachaegwonja, Daewoo Shipbuilding union.
The president of "The normalization of the underlying debt restructuring plan is achieved through large-scale debt-for-equity swap in accordance with the principle of risk-sharing of all stakeholders is promoted under the premise 'said' If you did not succeed to understand the voluntary agreement of the parties legally enforceable plan utilizing a P- Given the different reality that is difficult to promote the normalization through "he said.
Meanwhile, the day the government decided to invest new funds of 2.9 trillion won to revive Daewoo Shipbuilding & Marine Engineering. National banks, put the premise that banks and corporate creditors 2 1 trillion loan 9000 debt-for-equity swap that turns a billion to the debt restructuring stocks, such as high strength should be followed.
When including new funding and debt-for-equity swap is all count goes further support of the 6.7 trillion won in size. If the debt restructuring between stakeholders may come with smoothly will immediately rush to the pre-planned regeneration of the court system (P Plan, Pre-Packaged Plan).
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