After multiple financial institutions, including Meritz Securities Co., Ltd, offered a mega-size bridge loan to a project company, a lawsuit was launched against Daesung Industrial Co., Ltd. (construction company of the project) seeking repayment of the outstanding debt. Lee & Ko represented the financial institutions from the trial level. After 4 years of litigation, the Korean Supreme Court ruled in full favor of the plaintiffs’ claims on January 29, 2015 (Case No. 2013Da46832).
Not only did the parties to the case pay close attention to the developments of this case but the media did as well because the collection amount of the debt was approximately 130 billion Korean Won. In particular, when the construction company retained Bae, Kim & Lee at the trial and appellate levels and additionally retained Kim & Chang at the Supreme Court level, the media showed great interest in this case by describing it as the “the battle of star players at the big law firms.”
Through outstanding legal research and persistent arguments, Lee & Ko was able to prevail on all claims in the litigation.