Hannuri leads KRW 24 billion settlement in a civil case

   Hit. 45
Date. 2024.02.13   


Hannuri Law LLC reached a KRW 24 billion (USD 18 million) settlement in the appeal trial of a lawsuit claiming the return of unfair profits against a leading domestic chaebol construction company. In this case, the firm represented a client company established by overseas investors including Hong Kong, to invest in domestic real estate. In this case, the client company acquired a building located in the metropolitan area. The domestic construction company claimed that it had a lien on the target building, and a lien waiver and transfer agreement was concluded for the above building. However, it was later disputed whether the lien actually existed, and the case eventually ended up in litigation. 

Hannuri team, Jeong Seo (partner), Ju-yeon Kim (associate) and Jin Gu Park (associate) argued that in this case, the above lien waiver and transfer agreement is invalid due to primordial impossibility, and the amount paid by the client as a result of this constitutes unjust enrichment. In the case, the Seoul High Court proposed KRW 24 billion as a recommendation for reconciliation, and both parties agreed to this, and the case was concluded. 

Hannuri Law LLC will continue to provide legal services that meet the business needs of overseas investors based on its expertise and experience in the field of construction litigation.