Korea Line : Material Business Matters Related to Investment Decisions
December 14, 2021 at 12:48 am EST
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Report of Disclosure Revision
Revision Date
2021-12-14
1. Disclosure Documents in relation with Revision
Material Business Matters Related to Investment Decisions
2. Submission date of documents
2021-11-22
3. Reason for Revision
Receipt of notice of acceptance of appeals records
4. Revised Information
information
before revision
after revision
2. Docket number
Undecided
2021DA301206
5. Details of claim
Cannot be confirmed as of the date of this disclosure
The ruling of the original court of trial shall be quashed, and this case shall be remanded to the Seoul High Court.
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Material Business Matters Related to Investment Decisions
1. Title
Submission of the plaintiff's appeal against the judgement of the 2nd trial court for suit of assigned claim for payments
2. Details
1. Case name: Assigned claim for payments
2. Docket number: 2021DA301206
3. Plaintiff (appellant): Standard Chartered Bank
4. Defendant (respondent): Korea Line Corporation
5. Details of claim: The ruling of the original court of trial shall be quashed, and this case shall be remanded to the Seoul High Court.
6. Competent court: Supreme Court
7. Actions to be taken: After confirming the plaintiff's reason for appeal, our company plans to actively defend ourselves by thoroughly reviewing it.
8. Matter of reference (details of the judgement of the 2nd trial court)
The right to claim immunity of this case correspond to a reorganization claim, and hence, there is no interest in the suite to seek the relevant payment in a separate performance suit. This case is unlawful and shall be dismissed.
3. Date of board resolution (decision date) or confirmation date
2021-11-18
- Attendance of outside directors
Present(No.)
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Absent(No.)
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- Attendance of auditors (members of Audit Committee who are not outside directors)
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4. Other matters to be factored into investment decisions
- This case is a matter related to the "Suit of assigned claim for payments" disclosed on September 27, 2019, and our company lost in the 1st trial (disclosed on May 18, 2020), yet as a result of appealing for the 2nd trial, our company won based on the decision of cancellation of the decision of the 1st trial court (disclosed on October 28, 2021), about which the plaintiff has appealed.
- '3. Date of board resolution (decision date) or confirmation date' is the date on which the fact of appeal of the plaintiff (respondent) was confirmed on the electronic lawsuit site of the Supreme Court.
- When the details are confirmed, a disclosure will be made to provide information.
※ Related disclosure
2021-11-02 Material Business Matters Related to Investment Decisions
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)
Attachments
Original Link
Original Document
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Disclaimer
Korea Line Corporation published this content on 14 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2021 05:47:05 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.