It was reported on the 22nd that Chairman Yoon Dong-han, the founder of Kolmar Group, filed a special appeal with the Supreme Court after his provisional injunction to prevent his son, Vice Chairman Yoon Sang-hyun, from convening an extraordinary shareholders' meeting amid a management dispute was dismissed. In a situation where there are no separate means of appeal against the dismissal of the injunction, he responded with a special appeal.
Chairman Yoon Dong-han and his son Vice Chairman Yoon Sang-hyun competed to convene an extraordinary shareholders' meeting during the management dispute. This was to appoint their own trusted individuals as executives. In this instance, Vice Chairman Yoon won the first round. On the 25th of last month, the Daejeon District Court ruled in favor of Vice Chairman Yoon, stating, 'We permit the convening of the extraordinary shareholders' meeting.' At the same time, it dismissed Chairman Yoon's request for a provisional injunction to prevent the meeting.
In response, Chairman Yoon filed a special appeal with the Supreme Court on the 11th, requesting that Vice Chairman Yoon be prevented from convening the extraordinary shareholders' meeting. This was a day before Chairman Yoon was scheduled to meet with Vice Chairman Yoon in what he referred to as 'father-son meeting' on the 12th. A representative of Kolmar BNH stated, 'We are currently in the process of appealing the Daejeon District Court's decision through a special appeal to the Supreme Court.'
Previously, Vice Chairman Yoon's side had requested that Kolmar BNH, represented by his younger sister Yoon Yeo-won, hold an extraordinary shareholders' meeting to appoint him and Lee Seung-hwa, former vice president of CJ CheilJedang, as internal directors. Chairman Yoon and Yoon Yeo-won rejected this, leading both sides to file provisional injunctions regarding the convening of the extraordinary shareholders' meeting.
If the Supreme Court does not prevent Vice Chairman Yoon's side from convening the extraordinary shareholders' meeting, Kolmar BNH must hold the meeting by September 26.