Homeplus Creditors' Group Formed to Demand 800 Billion Won

Suppliers to Homeplus, which is undergoing rehabilitation proceedings, are joining forces to address unpaid debts.

The Homeplus Creditors' Group was established on August 5, appointing law firm LKB Pyeongsan as its representative. The group plans to demand measures from the courts, government, and National Assembly.

The group consists of suppliers who have not received payments for goods delivered since Homeplus filed for rehabilitation in March 2022. As of May 31, the total amount of unpaid claims held by these creditors is reported to be 793.9 billion won.

Public claims are prioritized over general rehabilitation claims and must be repaid regularly. These claims include payments for goods supplied during the rehabilitation process to ensure the debtor's normal operations.

The group stated, "It appears that Homeplus has recovered funds from selling goods, which should have been paid to the suppliers. We will take comprehensive action to ensure the rightful repayment of public claims, including submitting opinions and petitions to the court and negotiating with the administrator."

Homeplus has been under court management for approximately 16 months since it began rehabilitation proceedings in March 2022. On July 3, the court decided to terminate the rehabilitation process, citing Homeplus's failure to secure the minimum required funding of 200 billion won to implement its rehabilitation plan. Subsequently, Meritz Financial Group approved emergency operating funds (DIP loans), allowing Homeplus to secure funding and file an immediate appeal. The court then canceled the termination decision on July 21 and extended the rehabilitation process until September 4.