Who should save Homeplus? MBK faces growing accountability questions

MBK Partners is facing renewed questions over its responsibility as the largest shareholder of Homeplus, as the private equity firm clashes with Meritz Financial Group over the terms of emergency financing for the struggling retailer.

Meritz recently approved 100 billion won ($65 million) in debtor-in-possession financing to support Homeplus' rehabilitation, on the condition that the funding is backed by legally valid guarantees from MBK and MBK Chairman Michael Byung-ju Kim.

Meritz argues that ...