Seoul:<Text>
A Seoul court has concluded the rehabilitation proceedings for the e-commerce platform TMON, approximately one year after the company initially filed for court receivership.
According to Yonhap News Agency, the proceedings began last September, two months after TMON filed for court receivership due to significant delays in payments to vendors utilizing its platform. The Seoul Bankruptcy Court announced the conclusion of the proceedings, stating that TMON had fulfilled all its rehabilitation secured rights and settled 96.5 percent of its rehabilitation claims.
Throughout the rehabilitation process, TMON focused on a speedy acquisition strategy to clear its liabilities. In a decisive move in June, grocery delivery platform Oasis Corp. acquired full ownership of TMON following the court's approval of its rehabilitation plan.