Backed by W200b loan from Meritz, Korean retailer appeals court decision to terminate rehabilitation proceedings A Homeplus store in Seoul (Yoon Chang-bin/The Korea Herald) Homeplus said Monday it has filed an appeal with the Seoul Bankruptcy Court against the latter's decision to terminate the retailer's corporate rehabilitation proceedings as it had secured enough funding to continue the restructuring process last week.The court previously decided to end Homeplus' rehabilitation proceedings on July 3, citing a lack of operating funds while adding that it would reconsider its decision if the retailer could secure 200 billion won ($135 million) in working capital.Last week, Meritz Financial Group agreed to extend 200 billion won ($135 million) in emergency financing to Homeplus as its board approved the debtor-in-possession, or DIP, loan with MBK Partners Chairman Michael ByungJu Kim agreeing to provide a personal joint guarantee for the funding.With the financing secured, Homeplus said it believes that the legal requirements for reconsidering the court's earlier decision have been met and expects the rehabilitation proceedings to be extended through the appeal.According to the retailer, it plans to resume normal business operations as soon as the court grants the extension and the DIP financing is disbursed."Securing operating funds has allowed us to overcome a major hurdle toward normalization," a Homeplus official said. "However, a successful rehabilitation will not be possible without the cooperation and support of all stakeholders, including our suppliers. We ask for continued support from the perspective of mutual growth so that Homeplus can be revived."