Kia start court battle

Kia start court battle

SEOUL (AFP): South Korea's ailing Kia Motors Co on Saturday started a court battle against what it called an illegal decision to place it under court receivership.

Hundreds of Kia workers meanwhile staged a boisterous protest against receivership. They threw eggs and scuffled briefly with hundreds of riot police as they marched from Seoul railway station to the Myungdong Roman catholic cathedral.

In a written statement to the Seoul district court, Kia said it had been negotiating with creditors on debt rescheduling before the government intervened and pushed for receivership.

"Because it is evident that debt rescheduling is more beneficial to creditors than court receivership in all aspects, including the debt repayment, the request for court receivership should be rejected," Kia said.