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.
On 27 May 2016, South Korea's STX Offshore & Shipbuilding Co. ("STX OS"), once the country's fourth-largest shipbuilding firm by revenue, filed for court-supervised rehabilitation, in the Seoul Central District Court.
I. Hanjin Shipping applies for rehabilitation proceedings
The toughening of lockdown measures in Spain and resulting closure of all business activities not classed as essential makes it absolutely necessary to keep very much in sight this week the measures approved in the labor and employment field. In the domain of corporate law and commercial contracts, the decision governing the first tranche of guarantees to soften the economic effects of the crisis has already been published in the Spanish Official State Gazette (BOE). As for tax matters, the personal income tax and wealth tax season is about to start.
Las novedades regulatorias que afectan a las empresas se están aprobando de forma constante y continuada. Semana a semana, Garrigues ofrece un resumen de las principales cuestiones que deben tener en cuenta las empresas a lo largo de los próximos días.
- Implications of Supreme Court 2012Do1283 (rendered June 14, 2012)
Regarding the acquisition of a company under reorganization according to the Debtor Rehabilitation and Bankruptcy Act, the Supreme Court ruled on June 14, 2012 that the general principles of a leverage buy-out ("LBO") should apply.
On October 11, 2012, the Seoul Central District Court (“Court”) commenced reorganization proceedings against Woongjin Holdings, a holding company of Woongjin Group, under the Debtor Rehabilitation and Bankruptcy Act (“Bankruptcy Act”). As a result, various issues under the Bankruptcy Act related to the reorganization proceedings of Woongjin Holdings surfaced.
On October 11, 2012, the Seoul Central District Court ("Court") commenced reorganization proceedings against Kukdong Engineering & Construction Co., Ltd. ("Kukdong") under the Debtor Rehabilitation and Bankruptcy Act ("Bankruptcy Act").
La Sentencia del Tribunal Supremo, Sala Primera, de 22 de mayo, remarca que determinados comportamientos constitutivos de calificación culpable del concurso pueden provocar una inversión de la carga de la prueba sobre la incidencia del comportamiento de los administradores en la generación o incremento del déficit concursal, pero sigue sin ofrecer la «justificación añadida» de la atribución de la responsabilidad concursal.
1. La reforma del artículo 172 bis de la Ley Concursal
El Tribunal Supremo, aun admitiendo la vertiente resarcitoria de la cláusula penal, rechaza que tenga eficacia sancionadora para el deudor en concurso. En consecuencia, se sostiene que el interés del concurso sirva como factor de moderación de las cláusulas penales.
La sentencia de la Sala de lo Civil del Tribunal Supremo número 145/2019, de 8 de marzo (Ponente Excmo. Sr. don Francisco Javier Orduña Moreno) se pronuncia sobre los efectos de la cláusula penal sobre una concursada tras la resolución de un contrato.