Taeyoung Engineering & Construction (E&C) has received approval for its workout, securing more than 75 percent of creditors' support.
Taeyoung Engineering & Construction (E&C) has received approval for its workout, securing more than 75 percent of creditors' support. The financially troubled company's primary creditor, the Korea Development Bank (KDB), received written resolutions from some 600 creditors on Thursday regarding the approval of Taeyoung E&C's debt restructuring program that was filed in December. The KDB compiled votes until midnight on Friday and is likely to announce the final results on Friday morning. The image captures Taeyoung E&C's headquarters in Yeouido, western Seoul on Thursday. [YONHAP]
![Taeyoung Engineering & Construction (E&C) has received approval for its workout, securing more than 75 percent of creditors' support. The financially troubled company's primary creditor, the Korea Development Bank (KDB), received written resolutions from some 600 creditors on Thursday regarding the approval of Taeyoung E&C's debt restructuring program that was filed in December. The KDB compiled votes until midnight on Friday and is likely to announce the final results on Friday morning. The image captures Taeyoung E&C's headquarters in Yeouido, western Seoul on Thursday. [YONHAP]](https://img4.daumcdn.net/thumb/R658x0.q70/?fname=https://t1.daumcdn.net/news/202401/11/koreajoongangdaily/20240111185009042yozu.jpg)