SOUTH KOREA: GM-Daewoo JV inauguration pushed back – report
The Korea Herald reports that the inauguration of GM-Daewoo Auto & Technology scheduled for early October may now be pushed back to the middle of October due to a protracted court review of Daewoo Motor's liquidation plan. The newspaper report says that in order to launch the new GM-Daewoo entity, the liquidation plan for the bankrupt carmaker's outstanding debts needs to be finalised by the end of this week.
The Korea Herald reports that the inauguration of GM-Daewoo Auto & Technology scheduled for early October may now be pushed back to the middle of October due to a protracted court review of Daewoo Motor’s liquidation plan.
The newspaper report says that in order to launch the new GM-Daewoo entity, the liquidation plan for the bankrupt carmaker’s outstanding debts needs to be finalised by the end of this week.
However, Daewoo Motor is reportedly ‘not sure’ when the court will have completed its review.
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