South Korea’s Supreme Court Holds Eastar Jet Liable for Failed Merger with Jeju Air
The Supreme Court of South Korea has ruled that Eastar Jet is responsible for the collapse of its merger with Jeju Air, ordering substantial damages to be paid to Jeju. According to the court’s decision, Eastar Jet must pay Jeju Air 10 billion Korean won, and Daedong Investment, another involved party, is required to pay 326,000 Korean won in damages. This ruling marks a significant development in the ongoing legal dispute between the two South Korean carriers and their stakeholders.
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