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INTERNATIONAL > East Asia & Pacific

S. Korea top court nixes Mitsubishi Heavy appeal over assets

  • January 11, 2022
  • , Jiji Press , 4:29 p.m.
  • English Press

Seoul, Jan. 11 (Jiji Press)–South Korea’s Supreme Court has rejected an appeal by Mitsubishi Heavy Industries Ltd. <7011> over an order to seize assets of the Japanese company in South Korea in connection with a wartime labor lawsuit, it was learned Tuesday.
   

The top court dismissed Mitsubishi Heavy’s appeal on Dec. 27 last year over the seizure of a trademark right to pay compensation to one plaintiff.
   

The move followed the ruling by the Supreme Court in November 2018 ordering Mitsubishi Heavy to pay compensation to Koreans who worked for the company during World War II.
   

With the dismissal, procedures to sell Mitsubishi Heavy assets are expected to move forward.
   

Mitsubishi Heavy had filed a complaint against a ruling by Daejeon District Court ordering the seizure of assets held by the company in South Korea. After the complaint was quashed, Mitsubishi Heavy had filed an appeal with the Supreme Court.
   

In the lawsuit, the district court issued an order in September 2021 for the sale of two trademark rights and two patent rights seized from Mitsubishi Heavy for two other plaintiffs.

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