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[Recent Work] Advisory Work on Company’s Asset-Backed Loan for Corporate Funding / Sojong
2014.01.16 32577

Sojong Partners advised Company D in a transaction securing 70 billion won (equivalent to approximately US$ 6.6. million ) worth of loan using its future accounts receivables as collateral.

Company D aimed to assign to lenders its future accounts receivables as collateral for the loan, and lenders would collect on the accounts receivable, deduct principal and interest as per loan repayment schedule, and pay over to Company D the remaining amounts. In this respect, Sojong Partners prepared documentation for the asset-back loan transaction, and implemented the transfer of future accounts receivable.

Going forth, Sojong Partners will continue to
advise clients to help them meets the financial demands of their operation if they have stable future accounts receivable from their sales. Sojong Partners’ attorneys Ik Soo Jeon, Nam Moon Cho, Kwang Chun Park, Moon Sub Lee carried out this project.