This case was in relation to an M&A deal between Hanwha Chemical and KDB in acquiring Daewoo Shipbuilding & Marine Engineering (6.3 trillion Korean Won sale, one of the largest M&A deals in Korean history). When the M&A deal did not go through, Hanwha Chemical demanded the performance guarantee (322 billion Korean Won, which was confiscated) to be returned, against KDB and the Korea Asset Management Corporation. By logically arguing the legality of confiscating the performance guarantee, in representing KDB and the Korea Asset Management Corporation, Lee & Ko won both at the first court of instance (2009gahap132342 Seoul Central District Court, February 10, 2011) and appellate (2011na26010 Seoul High Court, June 14, 2012) levels. Currently, the case has been appealed to the Korean Supreme Court.