Amid the ongoing management rights dispute surrounding Korea Zinc, the application for an injunction to stop the buyback of treasury shares, filed by the Young Poong-MBK Partners alliance, has been dismissed once again.
On the 21st, the Seoul Central District Court dismissed the injunction filed by Young Poong to block the open purchase of treasury shares by Chairman Choi Yoon-beom’s side of Korea Zinc.
This injunction was filed by the Young Poong side, claiming that Korea Zinc’s announcement to openly purchase treasury shares from October 4 to 23 at 8.9 million KRW per share constituted a breach of duty.
The Young Poong-MBK Partners alliance is engaged in a fierce battle with the current management of Korea Zinc over securing control of the company.
Previously, the Young Poong alliance filed an injunction to block the buyback of treasury shares in September, but the court dismissed that as well.
With the court’s decision this time, Korea Zinc’s treasury share purchase is expected to proceed as planned, intensifying the battle for management rights between the two sides.
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Young Poong-MBK Partners Fail to Block Korea Zinc’s Treasury Share Buyback…Management Rights Dispute Intensifies
Amid the ongoing management rights dispute surrounding Korea Zinc, the application for an injunction to stop the buyback of treasury shares, filed by the Young
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