Restructuring/Insolvency
Asia-Pacific Guide 2024 : South Korea
Band 2
Email address
[email protected]Contact number
+82 2 3404 0000About
Provided by Bae, Kim & Lee LLC
BKL established a department specializing in bankruptcy for the first time in Korea and has grown to become a leading Korean law firm in this area. Since the Asian financial crisis in 1997, BKL has been involved in almost all domestic bankruptcy-related cases. BKL successfully represented our clients, regardless of whether they are debtor companies, creditors or any other related third parties involved in bankruptcy proceedings.
Over decades BKL has built up unrivaled and extensive experience in this area and continues to effectively meet our clients’ needs. Our Corporate Restructuring Team is comprised of around 20 professionals, including attorneys, certified-public accountants and dedicated researchers. We have dealt with numerous bankruptcy and corporate restructuring cases for more than twenty years, and provided superb legal services in international bankruptcy cases through cooperation with law firms overseas. Our team handles all ranges of bankruptcy and corporate restructuring works that include establishment of restructuring measures for troubled companies and rehabilitation measures for bankrupt companies; provision of advisory and litigation services relating to bankruptcy procedures; sale of assets as part of the rehabilitation measures for insolvent companies, transfer of business, spin-off, merger and other restructuring work; provision of legal advice in accordance with the Corporate Restructuring Promotion Act, transfer of NPLs and collection of debts.
Chambers Review
Bae, Kim & Lee is a highly regarded debtor-side practice assisting domestic companies in filing for rehabilitation and carrying out approved reorganisation plans. It houses a full-service team, well equipped to handle workouts as well as various insolvency-related takeovers and acquisitions of rehabilitated companies. The team also advises creditor groups, including major international lenders, and is well placed to assist with a range of contentious insolvency matters. It is particularly skilled in cross-border proceedings. Its key clients include Daewoo Shipbuilding & Marine Engineering, OK Capital, and KT.
Work Highlights
- Bae, Kim & Lee advised OK Capital, a creditor of Mesh Korea, on various measures for restructuring and debt collection. The firm assisted OK Capital with the application of P-plan rehabilitation which included advancing new financing to Mesh Korea.
Strengths
Provided by Chambers
"Bea, Kim & Lee had a compact working approach - very effective and efficient. The firm managed to complete the process very effectively and concisely."
"Their client service is excellent as they are always responsive."
"Bea, Kim & Lee had a compact working approach - very effective and efficient. The firm managed to complete the process very effectively and concisely."
"Their client service is excellent as they are always responsive."
Notable Practitioners
Hong Sung Jun continues to win instructions from creditors and debtors, frequently advising clients on out-of-court workouts and court rehabilitation proceedings. Clients benefit from his past experience as a judge in the Bankruptcy Division of Seoul Central District Court.
Park Hyun Wook focuses his practice on corporate rehabilitation mandates, representing indebted companies and their acquirers. He acts on behalf of debtors and creditors.
Ranked Lawyers at
Bae, Kim & Lee LLC
South Korea
Members
Provided by Bae, Kim & Lee LLC
Bo Youl Hur
Head of Department
Inman Kim
Jin Hong Park
Jonghyun Paik
Seung Jin Choi