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    Case-In-Pursuit

    Suit for Damages in Relation with CP Of LIG Engineering & Construction Co.

    From early 2010 to February 2011, LIG Engineering & Construction Co.(“the company”) issued CP(Commercial Paper) to many investors including the plaintiffs of this suit through seller securities companies including the defendant of this suit, Woori Investment Securities Co.(“Woori”) According to the financial report for the year of 2010, the company was financially in bad condition due to enormous debt (in the amount of 410 billion Korean won) incurring 20 billion Korean won as interest expense. The bad financial condition of the company was resulted from the chronic reasons such as residential market’s downturn, the delay of the account receivable, the increase of financial expense due to financial conditions, not from some abrupt reasons. Accordingly, investors who purchased the CP from early 2010 to February 2011 raised this suit against Woori for their damages.

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