쌍용자동차, 차질 없는 P플랜 추진 통해 경영정상화 기반 마련
회생절차를 신속하게 진행해 회생절차 비용 및 시간 등을 절약하고 빠른 기업정상화를 촉진
*아래는 위 기사를 구글 번역기로 번역한 영문 기사의 [전문]이다. [Below is the [full text] of an English article translated from the above article with Google Translate.
Ssangyong Motor Co., Ltd. lays the foundation for normalization of management by promoting a seamless P plan
Rehabilitation procedures are carried out quickly to save cost and time for rehabilitation procedures and promote rapid corporate normalization.
[Introduction of the case / Reporter Moon Hong-cherl] = Ssangyong Motors announced on the 4th that it will lay the foundation for business normalization early through the P-Plan (Prepackaged Plan) rehabilitation procedure.
On December 21, 2020, Ssangyong Motors submitted an application to initiate rehabilitation procedures and a decision to withhold rehabilitation procedures (ARS program) at the Seoul Rehabilitation Court on December 21, 2020, and the court has decided to withhold it until February 28.
Initially, Ssangyong Motor plans to withdraw the request to commence the rehabilitation procedure to the court by completing negotiations with the Mahindra Group and new investors early during the period of pending the start of the rehabilitation procedure, and agreeing to adjust interests such as creditors, but negotiations with new investors were delayed. Inevitably, the progress of the P plan was reviewed.
The P plan utilizes the pre-plan submission system stipulated in Article 223 of the Debtor Rehabilitation and Bankruptcy Act.When there is a possibility of new investment or debt repayment, a prior rehabilitation plan is prepared and submitted to the court before the commencement of rehabilitation procedures with the consent of more than half of the creditors. By doing so, it is a procedure to quickly proceed with the rehabilitation procedure, saving the cost and time of the rehabilitation procedure, and promoting rapid corporate normalization.
Ssangyong Motors is currently in consultation with the Mahindra Group and potential investors on the P plan-related procedures to promote the P plan, and plans to proceed with the creditor consent process by preparing a pre-rehabilitation plan, etc., as soon as the consultation is completed.
In particular, Ssangyong Motor plans to complete consultations with suppliers on the cost of delivery early, launch product improvement models, and increase sales volume through aggressive marketing strategies.
Ssangyong Motors is making every effort to properly pay the delivery price, such as suspending payment of part of the salary of its employees, and is continuing to request cooperation from the government so that Ssangyong Motor's partners can receive related funding.
Ssangyong Motor Co., Ltd. is very regrettable for causing concern to the public, including stakeholders such as business partners and financial institutions, in a difficult situation due to the corona pandemic, and overcomes the crisis at an early stage based on the win-win labor-management relationship. In order to do so, it said that it will do its best to discuss with related stakeholders.
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