Practice · Insolvency & Restructuring
Insolvency & Restructuring
Insolvency is not the end of a procedure; it is the beginning of a different one — the legal reorganization of rights to make recovery possible. From filing through plan confirmation to the post-confirmation amendment, each phase requires a different rhythm. I follow a single matter through its entire arc with one breath, under the Debtor Rehabilitation and Bankruptcy Act (DRBA) and the Seoul Rehabilitation Court Practice Rules.
Philosophy · The Attorney Who Reads the Numbers
A Rehabilitation Filing Is a Small Set of Financial Statements
A corporate rehabilitation or bankruptcy filing is, in substance, the construction of a small set of financial statements. Redefining the debtor's assets and liabilities, valuing liquidation and going concern values, designing the source and schedule of repayment — it is the work of reinterpreting the financial statements through the lens of insolvency law. Three years at Samil PwC (Audit and Deal Advisory) before law school is the foundation on which I read these cases.
Capabilities
Scope of Practice
Corporate Rehabilitation
From the petition under Article 34 of the DRBA, through preservation orders, custodian reports, plan preparation and voting, to confirmation order. Single-counsel continuity from filing through post-confirmation.
Stalking Horse M&A
Preferred bidder designation, conditional investment agreements, competitive bidding rules, break-up fee and right-to-match design. CNH Capital is the representative matter.
Plan Amendment (Post-Confirmation)
Amended rehabilitation plans under Article 282 of the DRBA — addressing post-confirmation environmental changes and M&A-driven re-funding.
Corporate Bankruptcy
Liquidation strategy when rehabilitation is not feasible. Avoidance action exposure, priority of wage claims, separation of director personal guarantees, trustee coordination.
Creditor-Side Counsel
For creditors receiving notice of a debtor's filing: claim filing, voting strategy, creditors' committee participation, plan negotiation. Strong objection and effective recovery are not the same.
Individual Rehabilitation & Discharge
Three-year repayment plans under the 2018 amendment, plan modifications, and discharge — particularly for self-employed and professional debtors with volatile disposable income.
Financial Institution Rehabilitation
Specialized credit finance companies and similar regulated entities — coordinating the rehabilitation court with the Financial Services Commission's prompt corrective action and licensing process.
Startup Insolvency
Corporate bankruptcy filings for app developers, e-commerce platforms, and entertainment companies. Investor recovery limits and director personal liability boundaries.
Signature Case
CNH Capital — Korea's First Credit Finance Company Rehabilitation
Filed December 2024 with the Seoul Rehabilitation Court; commencement order in January 2025. The first specialized credit finance company in Korea to enter a court-supervised rehabilitation. A Stalking Horse sale process ran in parallel, with Pinetree Asset Management — an NPL and alternative investment specialist — designated as the preferred bidder.
The three issues at the heart of the case — the interface between specialized credit finance regulation and the rehabilitation procedure, the unusual creditor composition of a credit finance company, and the design of the Stalking Horse sale — laid the practical groundwork for future financial-institution rehabilitations in Korea.
View Case →Procedure Guides
Procedure Guides
Detailed Korean-language procedure pages with infographics. English summaries available on request.
법인회생 절차 가이드
Filing through commencement to plan confirmation, with timeline infographic.
법인파산 절차 가이드
Trustee appointment, claim distribution priority pyramid.
개인회생 절차 가이드
3-year repayment under the 2018 amendment; disposable income visualization.
개인파산 절차 가이드
Discharge process; disqualification grounds; non-dischargeable debts.
Get in Touch
Considering insolvency proceedings?
Share the outline of your situation and I will return a first assessment of available paths, expected timeline, and estimated fees.
Schedule a Consultation →