D&A LLC successfully advised on the M&A sale of Shinhan Precision Co., Ltd. (the “Client”), a Korean manufacturer of automotive precision shafts, as part of its rehabilitation proceedings in December 2025.

The Client filed for the commencement of rehabilitation proceedings with the Daejeon District Court in November 2023, following severe financial distress driven by the restructuring of a key business partner, a downturn in the automotive industry, and rising labor and raw material costs. During the proceedings, the Client appointed Samil PwC as financial advisor and D&A LLC as legal advisor to pursue an M&A sale.

Notably, the M&A was carried out under highly complex circumstances, as the Client’s former representative director became uncontactable immediately prior to the filing for rehabilitation, giving rise to multiple intertwined disputes and complex legal issues. Despite these challenges, we successfully resolved the disputes and led the Client to both a successful M&A sale and the conclusion of the rehabilitation proceedings.

This case represents the largest M&A transaction conducted in rehabilitation proceedings before the Daejeon District Court in 2025, drawing significant attention from both the court and the market.