Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Denso Cuts Profit Forecast Amid U.S. Tariffs and Rising Costs 
Stephen Miran Resigns as White House Economic Adviser Amid Federal Reserve Tenure 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Trump Extends AGOA Trade Program for Africa Through 2026, Supporting Jobs and U.S.-Africa Trade 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Instagram Outage Disrupts Thousands of U.S. Users 
India Services Sector Rebounds in January as New Business Gains Momentum: HSBC PMI Shows Growth 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Australia’s Corporate Regulator Urges Pension Funds to Boost Technology Investment as Industry Grows 
Dollar Steady as Fed Nomination and Japanese Election Shape Currency Markets 
SsangYong Motor Co. revealed last week it is now free from the debt rescheduling program as the Seoul Bankruptcy Court ruled there is no more obstacle to the execution of the company’s rehabilitation plan. The court made the decision since the South Korea-based automaker has already repaid most of the rehabilitation security rights and claims amounting to KRW351.7 billion or around $267 million.
"The company has paid all the debts owed to financial institutions as scheduled under its rehabilitation plan," the carmaker’s spokesperson said.
The court also said SsangYong Motor has around KRW290.7 billion in funds for its operation. The firm’s sales also improved after it introduced its new Torres SUV model this year.
Additionally, it also formed its new board of directors, which apparently has a positive impact on the company. With the good developments, the company managed to emerge from the court receivership after 19 months.
Korea Joongang Daily reported that the automobile manufacturer has been placed under court receivership since April of last year. This happened because SsangYong Motor’s parent company, Mahindra & Mahinda, was not able to find new investors as the business was on a decline after suffering from financial issues that were only getting worst amid the COVID-19 pandemic.
It was in August when the bankruptcy court approved the company’s debt payment plans. This was after the court chose the KG Group-led consortium as the final bidder for the acquisition of SsangYong Motor in June.
In the last decade, SsangYong Motor already went through two rounds of court receivership. In 2004, China’s SAIC Motor Corp., Ltd. purchased a 51% share in the company, but it gave up its control over SsangYong in 2009 at the heels of a financial crisis that was affecting businesses worldwide. Eventually, the company was placed under court receivership for the first time, as per Yonhap News Agency.
In 2011, India’s Mahindra & Mahindra automotive manufacturer invested KRW523 billion to purchase a 70% stake in SsangYong. Its stake ownership increased to 74.65%, but as of Sept. 28, KG Group has become the biggest stakeholder with 61.88%, while Mahindra now owns just 10.15%, with the remainder being owned by other investors.
