회생절차에서의 자율구조조정 활성화 방안에 대한 소고 - 회생절차에서의 워크아웃 사례 검토를 중심으로 -

Abstract

Since Seoul Bankruptcy Court implemented the so-called Autonomous Restructuring Support(ARS) Program such as work out or autonomous negotiations in the rehabilitation procedures, the "ARS" system has been attempted in many corporate rehabilitation cases. "ARS" is a system that allows the court to delay its decision on whether to commence the rehabilitation procedures to allow debtors and creditors to proceed with work out or autonomous negotiations under the court's General Prohibition Order and Preservative Measures. There is a case that is successful in revitalization by filing for the Prepackaged Plan(P-Plan) after attempting to work out in the rehabilitation procedures of the Seoul Bankruptcy Court. It seems that there are no cases that are successful in “ARS” system before the decision on commencement of the rehabilitation procedures. Meanwhile, I haver represented the successful case of work out in the rehabilitation procedures in the Suwon District Court. After reviewing the contents and cases of the "ARS" system of the Seoul Bankruptcy Court, I would propose measures to promote autonomous restructuring in the rehabilitation procedures based on the analysis results from comparing the successful case of rehabilitation by filing for the Prepackaged Plan after attempting to work out in ARS space of the Seoul Bankruptcy Court and my successful case of work out before the decision on the commencement of rehabilitation procedures in the Suwon District Court. In particular, the revitalization of autonomous restructuring in the rehabilitation procedures requires the creation of an environment for the use of the ARS system in the rehabilitation procedures, and legislative improvement for the revitalization of the ARS system in the rehabilitation procedures.