HDC, Mirae Asset lose in $190-million lawsuit over failed Asiana takeover
HDC Hyundai Development Company and Mirae Asset Securities are not entitled to be refunded the combined 250 billion won ($190 million) they had paid previously for their acquisition of Asiana Airlines from its parent company, Kumho E&C, which eventually ended in failure, according to a court ruling, Thursday. The Seoul Central District Court accepted the request from Asiana and Kumho to refuse the refund to HDC and Mirae Asset from the escrow account. The justice also ordered the defendants to pay a combined 1.5 billion won to the plaintiffs in compensation for their breach of contract.
Source: koreatimes.co.kr
