Corporate rehabilitation attorney, what requirements are needed for a rehabilitation plan to be approved?

Hello. I am a corporate rehabilitation attorney at Daeryun Law LLC.

For a rehabilitation plan to be approved, the following requirements must be met.

As a corporate rehabilitation attorney, I will explain the details.

1. For a rehabilitation plan to be approved in the class of rehabilitation creditors, the consent of creditors holding at least 2/3 of the total voting rights belonging to that class is required.

2. In the class of secured rehabilitation creditors, the consent of those holding at least 3/4 of the total voting rights is required.

3. Where shareholders or equity holders exercise voting rights, the consent of those holding at least half of the total number of voting rights is required.

In addition, in simplified rehabilitation proceedings, there are cases in which the approval requirements are relaxed by special provision.

Because corporate rehabilitation proceedings are a complex and important matter, it is important to find the best approach through a consultation with a corporate rehabilitation attorney.

For detailed matters, we recommend that you check through a consultation with a corporate rehabilitation attorney who has handled many corporate rehabilitation cases.

A corporate rehabilitation attorney will establish tailored advice and a strategy suited to your situation.