[서울=뉴스핌] Reporter Jung Han = Interest is focused on the investment decision of HAAH Automotive, a potential investor of Ssangyong Motors, who is on a life-and-death crossroads. If a potential investor’s investment decision cannot be made, it is highly likely that Ssangyong Motor will be delisted and subject to legal management procedures.
An official from Ssangyong Motors on the 26th said, “There is no set when HAAH will announce its intention to invest,” he said. It is known that HAAH will announce whether or not to make an investment decision on this day, but no specific date has been set.
 |
| Ssangyong Motor Pyeongtaek Head Office [사진=쌍용차] |
If HAAH decides to invest, Ssangyong Motor will receive a confirmation of acquisition and agree to the creditors and the Seoul Rehabilitation Court.
This eliminates the need to enter the P plan (pre-rehabilitation plan) and go through legal management procedures. If HAAH refuses to invest or finds a new investor, it cannot prevent legal administration and delisting.
Earlier, Ssangyong Motors received a refusal of audit opinion from Samjung Accounting Corporation for the quarterly and semi-annual reports of last year and to this annual report.
This is a matter that meets the requirements for delisting, and if the rejection requirement is not resolved by the 13th of next month, the delisting process such as bulk trading will proceed.
First, Ssangyong Motor is expected to focus on submitting a letter of intent (LOI) from potential investors to the Seoul Rehabilitation Court by the 31st.
The exact date of notification of investment by HAAH is not known, but it is known that the court may also consider extending the time limit for filing the LOI, depending on whether or not HAAH is proceeding with the acquisition negotiations.
Meanwhile, Ssangyong Motor pays only half of the wages of its employees in March and April following January-February to pay for suppliers’ supply.