Supreme Court Rules Korea Zinc's SMC-Based Restriction of Young Poong's Voting Rights 'Unlawful'
6 Articles
6 Articles
(Seoul = Yonhap News) Reporters Lee Mi-ryeong and Jang Bo-in = The Supreme Court overturned the lower court's ruling last January that Korea Zinc's measure to restrict Young Poong's voting rights at an extraordinary general meeting of shareholders was illegal...
The Supreme Court has ruled that Korea Zinc's measure to restrict the voting rights of its largest shareholder, Young Poong, through its Australian affiliate, Sun Metals Corporation (SMC), is illegal. According to legal sources on the 31st, the Supreme Court upheld the lower court's decision on the 28th in a case concerning the exercise of voting rights between Korea Zinc and Young Poong, stating that SMC cannot be regarded as a subsidiary under…
Korea Zinc has refuted the claim by Young Poong and MBK that the measure restricting voting rights at last January's extraordinary general meeting was illegal, based on a court ruling, stating that it is "nothing more than a distorted and over-interpretation." According to legal sources on the 31st, the Supreme Court ruled on the 28th that Korea Zinc's Australian affiliate, Sun Metals Corporation Pty. Ltd. (hereinafter SMC), [regarding] the 'sub…
Korea Zinc’s measure to block the voting rights of its largest shareholder, Young Poong, by using an overseas affiliate has lost its legal legitimacy. In a decision on the 28th, the Supreme Court upheld the lower court’s ruling that the act of restricting Young Poong’s voting rights during Korea Zinc’s extraordinary general meeting of shareholders in January 2025 was illegal. The Supreme Court concluded that there was no legal error in the low…
The Supreme Court has ruled that the measure taken by Korea Zinc to restrict the voting rights of its largest shareholder, Young Poong, at a general shareholders' meeting by utilizing its Australian affiliate, Sun Metals Corporation (SMC), is illegal.
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