Hannuri succeeded in obtaining an injunction to inspect and copy the KT&G's accounting books

   Writer 한누리    l    Hit 469
2024.03.11 원문보기


Hannuri recently represented a minority shareholder activist fund in a case against KT&G, one of the world's top 5 tobacco producers and a leading company on the KOSPI index. We successfully obtained an injunction to inspect and copy the company's books of account and related and documents.


We initially requested access to the accounting books and documents related to the deteriorating profitability of its overseas tobacco business. However, KT&G declined to provide it. Subsequently, we filed a motion for an injunction, allowing us, as shareholders, to assess the company's management status and demand corrective actions if necessary. The court granted us partial access to accounting books and documents related to overseas tobacco sales.


During the injunction process, KT&G disputed the existence of the requested accounting books and documents. However, we argued that KT&G maintains its accounting books using an Enterprise Resource Planning (ERP) system, and therefore, relevant books pertaining to the contractual agreement with PMI and overseas tobacco division sales do exist. The court ruled in our favor, acknowledging our argument.


As a leader in litigation related to minority shareholder rights, such as shareholder derivative suits and accounting book inspection injunction cases, Hannuri remains committed to delivering the highest quality of services in the corporate governance field for our clients.



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