[Edaily Reporter Park Sun-Yeop ] Space Asset Co., Ltd. ( KOLON LIFE SCIENCE Inc.(102940)) announced on the 3rd that the Seoul High Court’s recommendation for a settlement regarding a lawsuit for damages filed by Space Asset Co., Ltd. and 219 others has been finalized.
The Seoul High Court issued a settlement recommendation ordering the plaintiffs to withdraw their claims against the defendants and for each party to bear their own litigation costs.
This case relates to the filing of a lawsuit seeking damages in excess of a certain amount, as disclosed on February 5. The company explained that the decision became final because neither the plaintiffs nor the defendants objected to the settlement recommendation.
A finalized settlement recommendation has the same legal effect as a final judgment. Accordingly, KOLON LIFE SCIENCE Inc. is not required to pay any amount to the plaintiffs.
The Seoul High Court issued a settlement recommendation ordering the plaintiffs to withdraw their claims against the defendants and for each party to bear their own litigation costs.
This case relates to the filing of a lawsuit seeking damages in excess of a certain amount, as disclosed on February 5. The company explained that the decision became final because neither the plaintiffs nor the defendants objected to the settlement recommendation.
A finalized settlement recommendation has the same legal effect as a final judgment. Accordingly, KOLON LIFE SCIENCE Inc. is not required to pay any amount to the plaintiffs.
