Winia is showing strength. It is interpreted that this is influenced by the news that Daeyu Holdings can recover 32 billion won in the legal dispute with Hong Won-sik, chairman of Namyang Dairy Products.
As of 10:49 a.m. on the 12th, Winia is trading at 563 won, up 4.26% from the previous day.
The Seoul High Court on the 8th ruled partially in favor of the plaintiff in the second trial of Daeyu Holdings (hereinafter Daeyu) against Chairman Hong's 'claim for penalty, etc.' The court held that Chairman Hong must pay the 32 billion won contract deposit and delay damages received when signing the 'Mutual Cooperation Implementation Agreement' with Daeyu Holdings.
Previously, in 2021, Chairman Hong suddenly withdrew the contract after signing a Stock Purchase Agreement (SPA) with Hahn & Company. At that time, Daeyu acted as Hong's white knight and signed a mutual cooperation implementation agreement, paying a contract deposit of 32 billion won out of the total transaction amount of 320 billion won as a condition for securing the right to complete the purchase reservation to acquire Namyang Dairy Products.
However, after Chairman Hong consecutively lost lawsuits against Hahn & Company, Daeyu canceled the agreement with Chairman Hong and filed a penalty claim lawsuit against him for breach of contract. As a result, the court ordered the payment of delay damages separately from the 32 billion won contract deposit in this second trial.
Meanwhile, Winia, a major affiliate of the Daeyu Group, is experiencing management difficulties, and there is a prospect that if 32 billion won is recovered according to this result, it could breathe new life into its liquidity. Winia is currently moving around a market capitalization of approximately 20 billion won.
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