Hana Bank won a partial victory in a lawsuit tied to the Lime Asset Management fund redemption freeze and will receive damages.
The Seoul Southern District Court on Wednesday ruled partly for Hana Bank in its damages suit against Lime Asset Management, Shinhan Investment Corp. and others.
The court found Hana Bank held about 38.9 billion won in bankruptcy claims and ordered the defendants to pay 36.4 billion won.
Hana Bank filed the suit in January 2022, saying it suffered losses from the sale of Lime funds. It sought about 36.4 billion won in damages.
The Lime scandal erupted in 2019 after allegations that Lime Asset Management improperly managed returns through irregular trading of convertible bonds and other assets tied to KOSDAQ-listed companies. As prices of stocks held by Lime funds plunged, redemptions worth 1.6 trillion won were suspended.
* This article has been translated by AI.
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