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A court in New York dismissed an 8-billion euro ($8.7 billion) lawsuit by AJ Energy LLC against South Korea's Woori Bank over an alleged failure in bank transfer, the bank's parent Woori Financial said Friday.
Little-known AJ Energy, which is reportedly registered in Nevada, filed the lawsuit in March last year, claiming that Woori Bank failed to transfer the money.
AJ Energy claimed that the money was allegedly transferred to Woori Bank from the US firm's foreign investors, but Woori Bank has said there is no record of such transaction.
In a regulatory filing, Woori Financial said the US District Court for the Southern District of New York dismissed the case and decided to sanction the plaintiff for filing a fraudulent lawsuit. (Yonhap)
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