Supreme Court Partially Overturns and Remands KB Securities ABCP Lawsuit
The Supreme Court partially overturned the lower court's ruling on delay damages for tort claims (Article 750 of the Civil Act) in a lawsuit filed by KB Securities against Hanwha Investment Securities and LS Securities (formerly eBest Investment) regarding ABCP defaults related to Chinese CERCG, and remanded the case to the Seoul High Court.
All other appeals by the plaintiff (KB Securities) and the defendants were dismissed.
The specific ruling amount was not disclosed, and the corresponding part of the selective claim under the Capital Markets Act was also overturned.
This lawsuit is a voluntary disclosure for claims below a certain threshold.
The company plans to respond through legal counsel in accordance with legal procedures.
KOSDAQ Filing Information
Filing: Judgment Or Decision On Lawsuit, Etc. (Voluntary Disclosure: Claim Below Specified Amount)