Asia Bizz: The Seoul Central District Court will be giving its decision into Hyundai E&C (engineering and construction) case on the 4th January. There is a fierce legal battle that is raging within the company’s two elite groups, Hyundai Group and Hyundai Kia Automotive Group, which has taken a whole new stage, and now the decision is the only phase that is left.
The court has announced that it will be making this decision in the month of January, only after they have received essential documents from the creditors. The court will not start negotiating with the South Korean automotive manufacturer until the 7th of January.
The Korean Exchange Bank and the creditors of Hyundai Engineering and Construction, had deprived the Hyundai Group from taking part in bid and as a result the group filed a case of injunction over the bidders. Now if the court finally accepts the request from the Hyundai Group then the sale can officially be suspended.