In 2009, a certain savings bank (“S Savings Bank”) issued subordinated bonds (the “Subordinated Bonds”).  Subsequently, the Financial Services Commission designated it as an insolvent financial institution and issued a management reform order, which included the suspension of its business.  Eventually, bankruptcy proceedings were commenced against S Savings Bank in around 2011, and the representative director of S Savings Bank was indicted for financial statement fraud and eventually found guilty.

Since the inauguration of electronic litigation or e-litigation (hereinafter “e-litigation”) services for patent cases in April 2010, the  Korean Supreme Court has gradually expanded the scope of availability of e-litigation services to civil, family law and  administrative cases, and provisional attachment and injunction cases. With the completion of the e-litigation system for  rehabilitation and bankruptcy cases, those proceedings and their ancillary proceedings can be administered electronically from  April 28, 2014, as described below.