[Exclusive] 'Raemian One Pentas' Pre-Litigation Lifted... Winners Announcement on the 7th

Cooperative Deposits Security Payment at Seoul Central District Court on the 2nd
Seocho-gu Office: "No Need to Postpone Winner Announcement"

The Raemian Onepentas association in Banpo-dong, Seocho-gu, Seoul, which caused controversy for proceeding with subscription while hiding the fact of the provisional seizure, has been confirmed to have resolved the provisional seizure by paying a deposit. The winner announcement scheduled for the 7th will proceed as planned.

According to related industries and Seocho-gu Office on the 6th, the Raemian Onepentas (Sinbanpo 15th reconstruction) association paid a deposit to the Seoul Central District Court on the 2nd to cancel the provisional seizure execution and submitted a monetary deposit certificate together. Cancellation or suspension of provisional seizure execution is only possible through monetary deposit. Accordingly, the Seoul Central District Court canceled the provisional seizure execution and sent the cancellation decision document to the association and Daewoo Construction the day before.

The association received a court decision approving a real estate provisional seizure of approximately 20.786 billion KRW from the court on the 17th of last month. The association initially selected Daewoo Construction as the contractor but terminated the contract and changed the contractor to Samsung C&T due to reasons such as increased construction costs. Accordingly, Daewoo Construction applied for a land provisional seizure at the Seoul Central District Court in May based on the claim for damages, and the court approved the provisional seizure in June.

After receiving the provisional seizure approval decision, the association did not inform this fact in the resident recruitment announcement that started two days later and proceeded with the subscription from the 29th of last month to the 1st of this month. With 134,047 applicants for 292 general sale units, a triple-digit competition rate was recorded.

With the cancellation of the provisional seizure, the Raemian Onepentas winner announcement scheduled for the 7th is expected to proceed as planned. A Seocho-gu Office official explained, “We judge that there is no need to postpone the winner announcement due to the cancellation decision of the provisional seizure.” A Korea Real Estate Board official also said, “The existing schedule has not changed yet. There has been no separate notification from the project entity.”

The association is expected to submit explanatory materials related to this to the district office by today.