MBK legal woes raise uncertainty over Homeplus restructuring, Korea Zinc control

Key issues involving MBK Partners, including the court-led Homeplus rehabilitation proceedings and the ongoing management control dispute at Korea Zinc, have fallen into uncertainty after prosecutors sought arrest warrants for four senior MBK executives, including Chairman Michael ByungJu Kim, over controversy surrounding Homeplus’ rehabilitation filing, industry officials said Thursday. The Seoul Central District Prosecutors’ Office requested arrest warrants for Chairman Kim, MBK Vice Chairman and Homeplus CEO Kim Kwang-il, MBK Vice President Kim Jeong-hwan and Homeplus Chief Financial Officer Lee Sung-jin, Wednesday, on charges of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violations of the Capital Markets Act. The individuals are considered central figures within the private equity firm. Chairman Kim serves as its ultimate decision-maker, while Vice Chairman Kim has been overseeing both matters in his dual roles as CEO of Homeplus and a non-standing outside director at Korea Zinc. They are suspected of having issued a substantial amount of asWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times