Korea Line : Filing or Application of Lawsuit, etc.(Claim of over Certain Amount)
January 21, 2022 at 02:32 am
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Filing or Application of Lawsuit, etc. (Claim of over Certain Amount)
1. Case name
Assigned claim for payments
Docket number
2021DA301206
2. Plaintiff (claimant)
Standard Chartered Bank
3. Details of claims
The judgment of the original court of trial (Seoul High Court 2020NA2017038 case on the transfer money) shall be quashed, and the case shall be remanded to the Seoul High Court.
- Contents of the original court of trial's judgment
(1) The judgment of the first trial shall be revoked.
(2) The lawsuit of this case shall be dismissed.
(3) The total cost of litigation shall be borne by the plaintiff.
4. Details of amount claimed
Amount claimed (KRW)
47,396,242,506
Equity capital (KRW)
1,037,887,845,082
Ratio to equity capital (%)
4.57
Classified as a large-sized corporation?
Yes
5. Competent court
Supreme Court
6. Actions to be taken
After checking the plaintiff's reasons for appeal, we plan to make a thorough review and actively defend ourselves.
7. Date of filing or application
2021-11-17
8. Confirmation date
2022-01-19
9. Other matters to be factored into investment decisions
1. "4. Details of Amount claimed- Equity Capital" is the amount obtained from deducting the total liabilities from the total assets based on the consolidated financial statements as of the end of 2020, then adding the amount of increase or decrease in the capital and capital surplus from the end of 2020 through September 30, 2021.
2. The date of filing or application is the date on which the plaintiff appealed.
3. The date of confirmation is the date on which our company submitted and filed the statement of reason for appeal.
4. "4. Amount Claimed(KRW)" is the amount of the principal according to the plaintiff's claim details as per the first trial combined with the interest calculated as of the date of disclosure (January 19, 2022). The initially announced basic exchange rate (1GBP = 1,616.73 won) was applied to the amount.
[The plaintiff shall pay the defendant ?19,586,290 and the money calculated at the rate of 6% per annum from February 2, 2016 until the date of delivery of a copy of the complaint, then at the rate of 12% per annum from the subsequent day until the full payment is made.]
※Related disclosure
2019-09-27 Filing or Application of Lawsuit, etc. (Claim of over Certain Amount)
2020-05-18 Court Ruling or Decision on Lawsuit, etc. (Claim of over Certain Amount)
2021-11-02 Material Business Matters Related to Investment Decisions
2021-11-22 Material Business Matters Related to Investment Decisions
2021-12-14 Material Business Matters Related to Investment Decisions
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Disclaimer
Korea Line Corporation published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 07:31:01 UTC.
Korea Line Corp is a Korea-based company engaged in the provision of marine transportation services. The Company operates a fleet of carriers, including bulk carriers for iron ore, liquefied natural gas (LNG) carriers for natural gas, and tankers for oil and petroleum products. The Company is also involved in the import and export of products such as steel; iron ore production; mold making; government ordered construction; ship management and parts supply and other businesses.