Momento: Court Approves Injunction Prohibiting NBT Largest Shareholder from Disposing of Shares

Momento announced on August 11 that the Seoul Western District Court had approved, as of August 8, its request for a provisional injunction to prohibit the disposal of 3,819,756 electronically registered shares (representing approximately 22.5% equity) held by Park Sookeun, the CEO and largest shareholder of NBT. The request was filed with the court on June 27, 2025.

As a result of this injunction, CEO Park is prohibited from carrying out any disposal actions?such as account transfers, cancellations, or the establishment of pledges?regarding the shares in question until a final ruling is made in the main lawsuit.

Momento stated, "On the day the contract was signed, we paid a deposit of 5 billion KRW to CEO Park and completed preparations for the final payment by June 25, the scheduled date. We repeatedly requested cooperation, including the provision of the list and accounts of pledgees, to facilitate the delivery of shares and the final payment. However, CEO Park did not comply and instead publicly disclosed the termination of the contract." The company added, "During due diligence, there were signs of non-cooperation from the seller, such as delays in providing key documents and a unilateral notice to terminate the process."

Momento explained that the court accepted its arguments and issued a provisional injunction prohibiting CEO Park from disposing of the shares. Momento emphasized, "This approval of the injunction demonstrates that the court recognized both the necessity and legitimacy of protecting our contractual rights," adding, "In the main lawsuit, we plan to seek compulsory enforcement of the contract and delivery of the shares."

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