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[Alpha Biz=(Chicago) Reporter Paul Lee] NH Investment & Securities Co., Daol Investment & Securities Co. and Kyobo Securities Co. won an appeal against Hyosung Heavy Industries Co. in connection with Romania's solar power generation project.
According to the financial investment industry on the 20th, the Supreme Court's second division (Chief Justice Min Yoo-sook) said on the 17th that it has sent the case to the Seoul High Court to review and judge the case again in a damage suit filed by Hyosung Heavy Industries against the three securities firms to pay a total of 140 billion won in damages and interest.
All appeals filed by Hyosung Heavy Industries against the three securities firms were not accepted. The intention is that all three securities firms cannot recognize their liability for damages.
"The original court acknowledged that the defendant (NH Investment & Securities) was liable for damages on the grounds of violation of the principle of good faith, but the original judgment made a mistake in affecting the ruling by misunderstanding the law on the recognition of duties and the establishment of illegal acts under the principle of good faith (principle of good faith)."
The lawsuit involving Daol Investment & Securities Co. and Kyobo Securities Co. was confirmed by the Supreme Court's ruling, and Hyosung Heavy Industries Co. will also pay for the appeal.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
