Every year, the Financial Supervisory Service selects companies that show signs of insolvency, and the number of such selected companies is increasing every year. Especially in recent years, due to unprecedented high interest rates, exchange rates and high prices in the midst of a global economic crisis, companies feel that the sense of crisis is gradually becoming a reality. In response, Barun Law’s Corporate Crisis Response and Restructuring Team not only provides comprehensive solutions to diagnose and prevent corporate crises in advance, but also provides the best solutions for corporate restructuring, including response measures for bankruptcy and corporate rehabilitation, with a dedicated team that has extensive experience in handling numerous bankruptcy cases. In addition, the team has partnered with one of the best accounting firms in Korea to provide better client satisfaction.

Corporate crisis management and restructuring is not limited to simply filing for rehabilitation or bankruptcy proceedings, but also includes efforts to find the best way to turn a company around. In particular, as the regulations on M&A in rehabilitation proceedings have recently been revised and made more efficient, there has been an increase in corporate rehabilitation through M&A, which requires specialized and preventive advice. Barun Law’s team of experts, composed of attorneys who have formerly served as judges, including Supreme Court justices, and in other positions, has a deep understanding of companies engaged in various business activities and a wealth of experience in handling relevant cases, and they are here to provide legal services tailored to the client’s needs and relevant circumstances.

Professionals Attorney Park, Je Hyeoung

Attorney Jo, Dong Hyun

Attorney Yi, Eung Kyo

Representation in filing for corporate rehabilitation and bankruptcy proceedings
Barun Law represents distressed companies in filing for rehabilitation or bankruptcy proceedings. The firm also diagnoses a company’s crisis and provides solutions on the best way forward, representing companies in all steps of any corporate rehabilitation or bankruptcy proceedings, such as preparing applications for corporate rehabilitation proceedings, attending and responding to a court’s examination process, filing all types of documents necessary for rehabilitation or bankruptcy proceedings, and preparing for and attending general meetings of creditors, and providing prompt and accurate advice on the various legal issues that arise in the process. Moreover, in recent years, there has been an increase in the number of P-Plan reorganizations, whereby a reorganization plan is submitted with the consent of half of the creditors prior to the decision to commence reorganization proceedings. Barun Law has extensive experience in handling such cases

Representation in the conduct of lawsuits related to corporate rehabilitation proceedings
Rehabilitation and bankruptcy proceedings involve unique litigation that differs from general civil litigation (e.g., petition for allowance of creditors’ claims, rejection proceedings), and Barun Law has the expertise to handle them.

Advising creditors in corporate rehabilitation or bankruptcy proceedings
Advising companies that are in the position of creditors of a company undergoing rehabilitation or bankruptcy proceedings is also an important area of practice, and Barun Law advises on the various aspects of securing the maximum rights of creditors, including protecting their rights in rehabilitation proceedings and advising on M&A transactions.

M&A issues of a company subject to rehabilitation proceedings
Barun Law advised on the sale or purchase of a company subject to rehabilitation proceedings. Recently, M&A transactions conducted under the stalking-horse bidding method, which is a combination of negotiated agreements and open bidding, has become one of the preferred M&A methods, and Barun Law has considerable amount of experience in conducting such cases.

Personal rehabilitation or bankruptcy of a representative director
In a corporate rehabilitation or bankruptcy, the personal rehabilitation or bankruptcy of the relevant representative director, who has provided a joint and several guarantee, is usually linked. Barun Law specializes not only in corporate rehabilitation and bankruptcy, but also in personal rehabilitation and bankruptcy proceedings involving representative directors.

Corporate Rehabilitation
- Corporate rehabilitation cases concerning various construction companies, including Sung Won Construction, Sungwon Industry Development, etc.
- Corporate rehabilitation cases concerning developers, including Dream REITs, etc.
- Corporate rehabilitation cases concerning clothing brands, including Tomboy, MORAEDO, etc
- A corporate rehabilitation case involving Lotte Tour Development following failure with respect to development of Yongsan Station area
- Corporate rehabilitation cases concerning outdoor brands, including Mook, Ecoroba, etc.
- Corporate rehabilitation cases concerning shipping companies, including SW Shipping
- Corporate rehabilitation cases concerning resorts, including Resom Resort
- Corporate rehabilitation cases including golf courses, including O2 Resort, Lake Hills Suncheon, Yongin, etc. (M&A during rehabilitation process)
- Rehabilitation cases concerning farming association corporations, including Pyeongchang Fresh Food, Sunjin Foods, etc.
- A corporate rehabilitation case involving Daekyo Edupia
- Corporate rehabilitation cases concerning trading and distribution companies, including Dongil Trade, company D, company S, etc.
- Advised a large supermarket chain on rehabilitation and sale of assets
- Advised broadcasting companies, including JWay, on rehabilitation and sale
- Corporate rehabilitation cases concerning software developers, including EnGIS Technology, etc.
- Corporate rehabilitation cases including auto parts companies, including Jico
- Corporate rehabilitation cases concerning paper manufacturers, including Kukil Paper MFG. Co., Ltd., etc.
- Corporate rehabilitation cases concerning pharmaceutical companies, including G9Pharma, etc.
- Corporate rehabilitation cases concerning food product manufacturers, including Chew Young Roo, etc.

Advisory Matters
- Advised and represented Incheon Transit Corporation, the creditor in the relevant bankruptcy case involving Uijeongbu Light Rail, the company in bankruptcy
- Advised a creditor of Bearport Resort, a golf course, on purchase-related matters
- Advised on the purchase of STX Engineering & Construction
- Advised a creditor of Jeil Hospital, a medical legal entity, on purchase-related matters
- Advised a creditor of Herb Cure, a health functional food manufacturer, on purchase-related matters
- Advised a creditor of Good People, a underwear manufacturer, on purchase-related matters
- Advised a creditor of Vitzrosys, a remote surveillance control systems company, on purchase-related matters
- Advised a creditor of company K on purchase-related matters