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Lee Maeng-hee, the eldest brother of Samsung Electronics Chairman Lee Kun-hee, appealed a lower court verdict on Friday, court officials said, starting the second round of a legal battle between the estranged brothers over their inheritance.
The Seoul Central District Court earlier this month ruled in favor of the chairman in inheritance lawsuits filed by his siblings. The siblings were demanding more than 4 trillion won (US$3.6 billion) in stakes in Samsung Group units.
With the ruling, the country’s richest man was able to keep his holdings in the companies, including Samsung Life Insurance Co. and Samsung Electronics Co., that the siblings claimed were hidden from them after the death of their father, Samsung founder Lee Byung-chull.
Lawyers representing the elder Lee submitted a request for an appeal with the court, officials said, adding that the first trial at the Seoul High Court is expected to be held in May after the paperwork is forwarded to the higher court.
Industry sources initially forecast that the elder Lee would give up on filing appeals as he would have to pay up to 3 billion won for the suit fees.
The other participants in the civil suits, the chairman’s elder sister, Lee Sook-hee, and the family of the founder’s deceased son, have not yet appealed to the higher court, court officials said. (Yonhap News)
The Seoul Central District Court earlier this month ruled in favor of the chairman in inheritance lawsuits filed by his siblings. The siblings were demanding more than 4 trillion won (US$3.6 billion) in stakes in Samsung Group units.
With the ruling, the country’s richest man was able to keep his holdings in the companies, including Samsung Life Insurance Co. and Samsung Electronics Co., that the siblings claimed were hidden from them after the death of their father, Samsung founder Lee Byung-chull.
Lawyers representing the elder Lee submitted a request for an appeal with the court, officials said, adding that the first trial at the Seoul High Court is expected to be held in May after the paperwork is forwarded to the higher court.
Industry sources initially forecast that the elder Lee would give up on filing appeals as he would have to pay up to 3 billion won for the suit fees.
The other participants in the civil suits, the chairman’s elder sister, Lee Sook-hee, and the family of the founder’s deceased son, have not yet appealed to the higher court, court officials said. (Yonhap News)
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Articles by Korea Herald
