50DN Wells Fargo 24

TIDM50DN

RNS Number : 4958C

Samsung Heavy Industries Co., Ltd

08 March 2011

Creditors' request for revision of the Seoul High Court's Ruling

on Samsung Motors Case

On March 3, 2011, the creditors of Samsung Motors appealed to the Supreme Court, requesting the Court to annul the Seoul High Court's ruling against the plaintiffs and resend the case to the Seoul High Court for rehearing.

Summary of the Lawsuit

1. This lawsuit is related to the agreement regarding court receivership of Samsung Motors, which Chairman Lee and 28 Samsung affiliates including Samsung Heavy Industries agreed with creditors of Samsung Motors in September 1999. (Related public disclosure: Lawsuit against Samsung Heavy Industries and its Affiliates Regarding Samsung Motors, December 22, 2005, Court's Ruling on Samsung Motors, February 14, 2008, Court's Ruling on Samsung Motors, January 19th, 2011, and Request for Revision of Court's Ruling on Samsung Motors Case, Feb 7, 2011)

2. Plaintiffs (appellee): Seoul Guarantee Insurance and 13 other parties

Defendants (appellant): 28 Samsung affiliates including Samsung Heavy Industries

3. The plaintiffs call on the defendants to pay KRW 2.23 trillion, which excludes KRW 600 billion paid to the plaintiffs in accordance with the court of appeals' ruling from the total penalties claimed by the plaintiffs.

* Note: In accordance with the court of appeals' ruling, KRW 600 billion was paid to plaintiffs from the Escrow account as penalties for delayed debt repayment.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCGGGDXSBGBGBI

Grafico Azioni Wells Fargo 24 (LSE:50DN)
Storico
Da Nov 2024 a Dic 2024

Grafico Azioni Wells Fargo 24 (LSE:50DN)
Storico
Da Dic 2023 a Dic 2024