Court Rejects MB Couple's Appeal to Suspend Auction of Nonhyeon-dong Residence

[Asia Economy Reporter Kim Hyung-min] The court has once again dismissed the injunction request filed by former President Lee Myung-bak and his wife to suspend the enforcement of the public auction of their residence in Nonhyeon-dong.

According to the legal community on the 30th, the Seoul High Court Administrative Division 6-2 (Presiding Judges Hong Ki-man, Hong Sung-wook, Choi Han-soon) rejected the appeal of the injunction request filed by the former president and his wife against Korea Asset Management Corporation (KAMCO), asking to halt the enforcement of the entire public auction of their residence.

Last year, the Supreme Court confirmed a 17-year prison sentence, a fine of 13 billion KRW, and a confiscation amount of 5.78 billion KRW against the former president. Recently, the prosecution entrusted KAMCO with the public auction agency to recover the confiscation amount. The building and land in Nonhyeon-dong were sold at auction for 11.156 billion KRW on the 1st of last month.

In response, the former president's side argued that since the couple each owns half of the shares of the Nonhyeon-dong building, it cannot be sold through a lump-sum public auction, and that Mrs. Kim Yoon-ok should have the right of first refusal in the real estate auction process. They filed a lawsuit to confirm the invalidity of the public auction and also applied for an injunction.

The court dismissed the injunction request of the former president and his wife on the 23rd of last month. They immediately appealed this decision, but the court again rejected it. The first hearing of the main lawsuit is scheduled for October 8.

This content was produced with the assistance of AI translation services.