Husentec "Court Dismisses Bankruptcy Petition... Difficult to Consider Contract and Documents as Genuinely Established"

[Asia Economy Reporter Yoo Hyun-seok] Husentec announced on the 7th that the Suwon District Court dismissed the bankruptcy petition filed by J&HT (creditor) recently raised.

The Suwon District Court explained, "Based on the materials submitted by the petitioner so far, it is difficult to consider that the disposition document, the consumer loan contract in this case, was genuinely established, and there is no evidence to recognize the establishment of the loan claim asserted by the petitioner, nor that the petitioner is a proper applicant for this bankruptcy petition." It added, "This petition is improper and is therefore dismissed."

Earlier, J&HT filed a bankruptcy petition with the court on the 3rd of last month, claiming that the respondent had borrowed 10.5 billion KRW. Subsequently, on the 4th, the Korea Exchange requested a disclosure inquiry regarding the bankruptcy petition rumor and suspended trading.

In response, Husentec filed a complaint against executives of Company H, who forged the corporate seal and prepared a 10.5 billion KRW consumer loan contract, as well as the CEO of J&HT, on charges of fraud, forgery of private documents, and false entry in a notarized document. The company also deposited 10.5 billion KRW with the court, leading to the lifting of the trading suspension.