PREVIEW

... k chose the latter, for which it launched an ambitious restructuring plan under the South Korea Business Restructuring Promotion Act (CRPA).

The CRPA is part of South Korea's national plan to help companies recover from the financial crisis, and the law gives the Exchange Bank the right to appoint Hynix's management and lend Hynix $1.2 billion to complete reconstruction.

So Exchange Bank established a creditors committee to replace the Hynix board, and this committee is responsible ...

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