DR & AJU successfully represented Korea Line Corporation, an affiliate of SM Group’s Shipping Division, against a British bank in an indemnity claim.
After the British tax system was reformed in 2015, British tax authorities levied taxes on tax lease savings. After pre-paying the taxes, the British bank filed a lawsuit against Korea Line Corporation in 2019 to recover the additional amount of KRW 40 billion (approx. USD 31 million).
The Court dismissed the case, viewing the British bank's claim for immunity as a bond under an unfulfilled bilateral contract and should be regarded as a simple rehabilitation claim rather than a public interest bond. After winning the case, DR & AJU’s attorney commented, "An unfulfilled bilateral contract should only be recognized when there is an original price-related relationship. This decision is in accordance with preceding Supreme Court decisions that affirm this interpretation."
