Shinhan Investment Corp. announced on the 30th that it held a board meeting the previous day and decided on a private settlement regarding the suspended redemptions of the Gentwo Trust and Lime Fund.
Previously, during the suspension period of redemptions for the Gentwo Trust and Lime Fund, Shinhan Investment Corp. conducted multiple board meetings to review the status of the products and engaged in legal and procedural discussions to find the best resolution in order to protect customers.
In 2020, it voluntarily compensated 20-30% of the suspended redemption amounts for the Lime domestic fund and trade finance open-ended fund, and in 2021, it provided an advance payment of 40% of the suspended redemption amount to secure liquidity for Gentwo Trust investors.
At this board meeting, considering the considerable time required for final recovery of investment assets through overseas legal procedures, it was decided to adopt a private settlement plan that can more quickly protect investors and restore customer trust.
The private settlement procedure is scheduled to begin next month, and the compensation ratio will follow the standards set by the Financial Supervisory Service's Dispute Mediation Committee.
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