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6. DEBTOR’s INSOLVENCY (BANKRUPTCY / REHABILITATION)

1 min readJul 28, 2017

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When creditor finds DEBTOR’s INSOLVENCY (Bankruptcy or Rehabilitation), it should report the court as a creditor and submit evidence for credit.

In BANKRUPTCY or REHABILITATION procedures, creditor shall attend the meeting of creditors / assembly of related persons several times.

After BANKRUPTCY / REHABILITATION procedures, debtor shall pay according to its repayment plan and creditor can recover certain part of its credit by partial payment for several years.

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Howon Lee (이호원 변호사)
Howon Lee (이호원 변호사)

Written by Howon Lee (이호원 변호사)

Attorney at Law, Korea | Provides International Debt Collection Services in South Korea | www.dcklegal.com | howon.lee@dcklegal.com

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