Samsung unit seeks debt protection

Article Abstract:

Samsung Group said that it will attempt to gain protection from the courts against creditors. The court protection involves the group's troubled Samsung Motors Inc. Samsung made its decision after it was unable to complete a high-profile asset exchange with the Daewoo Group. The exchange would have given Daewoo Samsung Motors in return for Daewoo's consumer electronics business. However, the financial terms of the deal could not be agreed on.

Comment:

To attempt to gain protection from courts against creditors

Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Abstract, Automobile industry, Samsung Group

---

New loans to Daewoo are denied by creditors

Article Abstract:

Local creditors turned down a request for new loans by Daewoo Group. The loans were to be used to assist the group's affiliates to pay for supplies and to finance operations.

---

Foreign banks of Daewoo reach debt settlement

Article Abstract:

Daewoo Group's foreign creditors have agreed to sell off the loans that the group owes them. The creditors will sell the loans to banks in South Korea.

Similar abstracts:

• Abstracts: Siemens aims to beef up reserves for acquisitions. Siemens to grow without acquisitions. Siemens to join all its businesses electronically
• Abstracts: Siemens pushes into key market in Internet protocol. Siemens adds to U.S. presence by buying Efficient Networks
• Abstracts: The dealer association as brand. Roger reconnects to Gee Jeffery. Effem hands $11M to MediaVest
• Abstracts: Eatons ad creates high expectations. Sears' marketing future uncertain
• Abstracts: Saatchi evolves its brand. Executives drawn to Envoy startup. Page 1 to close by year end

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.