Sending time2021-03-11 17:49
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Lee Jae-yong’s’Unfair Merger·Accounting Corruption’ Tribunal
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(Seoul = Yonhap News) Reporter Hwang Jae-ha and Park Hyung-bin = Samsung Group vice chairman Lee Jae-yong and other criminal trials held a fierce court battle on the 11th by prosecutors and lawyers over the nature of the Samsung C&T-Cheil Industries merger that took place in 2015.
The prosecution declared the merger as a work for Lee’s “illegal succession of management rights,” claiming that it had caused damage to shareholders of Samsung C&T, and the lawyers confronted that no company had suffered damage from the merger, but rather profited.
Part 25 of the Seoul Central District Court’s Criminal Agreement (Dr. Jeong-je Park and Deputy Judge Seong-soo Kwon) held the second trial preparation date of 10 Samsung officials and Vice-Chairman Lee, who were charged with fraudulent transactions under the Capital Market Act, market price control, and business negligence We confirmed the positions of both sides surrounding.
The prosecution explained the charges against Lee and others for about an hour using a pre-prepared presentation (PPT) file, and the lawyers refuted this and claimed innocence.
The prosecution said, “The succession preparation plan was already established in 2012, before and after the inauguration of Samsung Electronics’ vice chairman (by Lee’s). The merger between Everland (formerly Cheil Industries) and Samsung C&T was promoted according to the’Project G’established by the Future Strategy Office. “I said.
According to the prosecution, Project G is a succession plan of Vice-Chairman Lee, led by the U.S. Department of Defense, and contains the contents of consolidating the group’s dominance by overvaluing the value of Cheil Industries, which Lee owns a lot of shares, and by undervaluing the value of Samsung C&T.
The prosecution said that the value of Samsung C&T’s stock was undervalued during the merger with Cheil Industries, saying, “The company’s assets were disposed of at a’cheap price’. I did” insisted.
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Vice-Chairman Lee’s lawyer said, “There are 23 times in the public complaint that Cheil Industries is overvalued, and Samsung C&T has been undervalued 16 times. There are also expressions that the opinion that it is overvalued or undervalued is dominant. To what extent is it dominant?” He refuted.
“The prosecution claims that Cheil Industries was overvalued at the time of the merger, but the National Pension Service net bought Cheil Industries’ stock worth 466.9 billion won in the six months before the merger was announced.” I asked.
He said, “If one company suffers from the merger, it would be a problem, but after the merger with Cheil Industries, Samsung C&T improved its business performance and raised its credit rating.”
Samsung C&T and Cheil Industries went through the board of directors in 2015 and decided on a merger under the condition of exchanging one share of Samsung C&T for 0.35 shares of Cheil Industries, and Vice Chairman Lee, who owned a 23.2% stake in Cheil Industries, strengthened the group’s dominance through the merger. did.
In the process of the merger, the prosecution made an unfair transaction such as disseminating false information in order to raise the stock price of Cheil Industries and lower the stock price of Samsung C&T by the Samsung Group led by the US War Office. Passed on.
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2021/03/11 17:49 sent