Industrial Bank of Korea "Lime Fund Investor Compensation Process Nearing Completion"
[Asia Economy Reporter Kangwook Cho] The Korea Development Bank (KDB) announced on the 25th that it is finalizing the compensation dispute for investors of the 'Lime Repo Plus Private KD-1' fund, whose redemption has been suspended, through court-mediated settlement procedures.
KDB formed a dedicated task force for the Lime fund redemption suspension and began court-mediated settlement procedures in June. As a result, disputes involving 18 out of 26 Lime fund investors have been resolved as of this month, with settlement procedures ongoing for 6 investors. Litigation is planned for the remaining 2 investors.
KDB expects that if the settlement procedures for the 6 ongoing cases are successfully completed, over 90% of the compensation process will be finalized.
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KDB explained that the current court-mediated settlement follows Article 4-20, Paragraph 1, Item 7 of the Financial Investment Services and Capital Markets Act (compensation for losses or damages through dispute resolution or court-mediated settlement), and that compensation ratios were determined by referencing financial authorities' compensation standards and past similar cases, with compensation proceeding through court settlement procedures.
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