Cash-strapped e-commerce platforms TMON and WeMakePrice were given court approval on Tuesday to begin their rehabilitation process, 44 days after they filed for corporate rehabilitation.

The Seoul Rehabilitation Court announced that it has decided to initiate the rehabilitation process, allowing a court-appointed administrator to take charge of the management of the two companies.

TMON and WeMakePrice will also have to prepare a list of creditors, report claims and conduct investigations to prepare a rehabilitation plan.

Based on the final rehabilitation plan submitted by the companies, the court will once again determine whether to give approval based on the consent of more than two-thirds of creditors and more than three-quarters of secured creditors.

It usually takes about five to eight months from the start of the rehabilitation process to the submission of the final plan.