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[Market Now] Seoul court dismisses injunction against Hyundai Cement execs
By Park Hyung-kiPublished : March 23, 2016 - 10:30
Hyundai Cement said in its disclosure filing Wednesday that the Seoul Central District Court had dismissed an injunction filed by former chairman Chung Mong-sun against the company’s executives, including CEO Lee Joo-hwan.
Chung filed for an injunction with the court last October to suspend the appointments of the executives amid a battle over the company’s ownership. The Seoul court said Chung’s claims did not suffice to justify an injunction.
Chung tried in vain to plead his case to take over the company during the shareholders meeting last week.
KEB Hana Bank is the biggest shareholder, with a 24.4 percent stake in the listed cement-maker, according to an audit filing.
(hkp@heraldcorp.com)
Chung filed for an injunction with the court last October to suspend the appointments of the executives amid a battle over the company’s ownership. The Seoul court said Chung’s claims did not suffice to justify an injunction.
Chung tried in vain to plead his case to take over the company during the shareholders meeting last week.
KEB Hana Bank is the biggest shareholder, with a 24.4 percent stake in the listed cement-maker, according to an audit filing.
(hkp@heraldcorp.com)
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