[Alpha Biz=(Chicago) Reporter Paul Lee] KB Securities has set up a task force (TF) to respond to Taeyoung Construction's workout.

According to ​EDAILY on the 9th, KB Securities has set up a TF for Taeyoung Construction, which consists of the IB headquarters, alternative investment management department and screening department. Seo Jung-woo, head of the real estate finance division, is the TF team leader. The TF was reportedly launched shortly after Taeyoung Construction applied for a workout.

In particular, in addition to 41.2 billion won in PF loans, the size of contingent liabilities related to Taeyoung, including guarantee debt, is large, which is believed to have felt the need to respond quickly to Taeyoung E&C's liquidity crisis.

Meanwhile, the creditors' council will hold a vote on the 11th and make a final decision on whether to start the workout.

 

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