JoongAng debt crisis heads to key court hearing

JoongAng Group's debt crisis will face its first major court test next week, with the Seoul Bankruptcy Court set to question representatives of five key affiliates that sought rehabilitation after broadcaster JTBC defaulted on short-term debt.

The court will question representatives of JTBC, JoongAng Holdings, Contentree JoongAng, Megabox JoongAng and JoongAng P&I on June 23, according to legal circles Wednesday.

It is expected to examine the scale of their liabilities, liquidity conditions and ...