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• SKorea's LG Group, creditors remain wide apart on LG Card bailout

  - 2004-12-30

  SEOUL AFP — South Korea's LG Group and creditors of its former card unit remain dvidied over a 1.1 billion dollar bailout for LG Card as overnight talks failed on how to split the rescue bill. Creditors led by Korea Development Bank KDB have threatened to put the country's...

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• Creditors, LG to compromise on rescue for LG Card: financial watchdog

  - 2004-12-28

  SEOUL AFP — South Korea's top financial watchdog says creditors and the LG Group would eventually compromise over how to rescue LG Card in order to avoid the demise of the country's largest card issuer. Shares of LG Card were up 5.4 percent at 15,500 won, with investors betting...

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• Key creditors issue liquidation ultimatum over South Korea's LG Card

  - 2004-12-27

  SEOUL AFP — Key creditors of South Korea's ailing LG Card issued an ultimatum that LG Group should help bail out its former card unit by Wednesday or otherwise it will be put into liquidation. The final warning came as heads of four main creditors met to discuss the...

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• LG Group officially rejects creditor demand to help LG Card

  - 2004-12-21

  SEOUL AFP — The LG Group officially turned down a request by creditors of LG Card to provide further help in rescuing the country's largest credit card issuer, the group said. The rejection added to uncertainties about the fate of the troubled company, sending LG Card shares down 8.7...

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• Creditors reach deal but final obstacle holds up LG Card rescue

  - 2004-01-09

  SEOUL AFP ? Creditors of South Korea's ailing LG Card and its parent LG Group agreed on most terms for rescuing the country's largest card issuer but one bank remained opposed to part of the deal. "We have reached an agreement on all issues but one," Woori Bank's vice...

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• LG Group under pressure to take on more of the burden to rescue LG Card

  - 2004-01-07

  SEOUL AFP ? The South Korean government said creditors could pull the plug on a rescue bid for LG card unless the firm's parent company, LG Group, provides more financial aid. South Korea's number one card issuer could face insolvency within days, a senior finance ministry official said. ...

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• LG Card to be auctioned off to creditors on Dec 31

  - 2003-12-17

  SEOUL AFP ? South Korea's largest credit card company will be auctioned off on December 31 in a sale limited to its eight creditors, a main creditor bank said. The bidding price for LG Card will start at one trillion won (840 million dollars) and the buyer will also...

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• South Korean creditors plan to take over ailing LG Card

  - 2003-12-15

  SEOUL, AFP ? Creditors of LG Card are seeking to take over the largest credit card company in South Korea via a new injection of funds as the ailing firm faces default risks despite a recent 1.7-billion-dollar bailout. "Creditor banks have proposed to take over LG Card and LG...

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• Creditors to pull LG Card from brink of bankruptcy

  - 2003-11-24

  SEOUL AFP ? Creditors were poised to extend a 1.7 billion dollar rescue package to pull South Korea's largest credit card firm LG Card back from the brink of bankruptcy. Main creditor Woori Bank and seven other banks agreed overnight to the emergency bailout for LG Card, the ailing...

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• Creditors rescue LG Card from brink of bankruptcy

  - 2003-11-24

  SEOUL AFP ? Creditors extended a 1.7 billion dollar rescue package to pull South Korea's largest credit card firm LG Card back from the brink of bankruptcy. Main creditor Woori Bank and seven other banks agreed overnight to the emergency bailout for LG Card, the ailing subsidiary of South...

  Tags: LG Card, LG Group