Kumho Tire creditors approve workout program plan, repayment freeze

By Caroline Salls

Pittsburgh, Jan. 7 - Kumho Tire Co. Inc.'s creditors have approved a plan to put the company under a debt-workout program and to freeze debt repayments until April 5, according to a news release.

Under the workout program, the company expects a six-to-eight-week due diligence period before creditors can carry out a final restructuring program.

Kumho Tire is a Seoul, South Korea-based maker of tires for passenger cars, SUVs, trucks and off-road vehicles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.