Bank of Korea, 1at trial, 100won damages ruling for billion won against Bank Mellat and filed an appeal

The Bank of Korea was ordered to pay 1billion won in a damages lawsuit over the suspension of financial adjustment deposit transactions with Bank Mellat of Iran, following a ruling at 100instance. The case concerns damages arising from the suspension of the financial adjustment deposit transactions. The Bank of Korea 1filed an appeal with the court against the ruling at instance.

The plaintiff is Bank Mellat and the defendant is the Bank of Korea. The court is known to have ruled at 1instance in a manner recognizing part of the plaintiff's damages. The case will be heard again by a higher court following the appeal.

Proceedings before a higher court are scheduled to take place following the filing of the appeal. The higher court may review the legal principles and the method used to calculate the damages. The enforcement procedures and schedule for this ruling have not been finalized before the higher court's decision.

The core of the lawsuit is the central bank’s decision to halt the transaction and the scope of liability for the resulting damages. This ruling shows that a central bank may be subject to legal disputes. Until the appellate court’s decision is issued, 1the trial court’s ruling is not final.

During the legal proceedings, related disclosures and the court schedule are key points to monitor. The Bank of Korea has filed an appeal and is awaiting the appellate court’s decision. Melat Bank’s specific basis for calculating damages and its legal arguments will also continue to be presented in the proceedings.

At this stage, it has been confirmed that the case has moved to the appellate court following the filing of an appeal. Enforcement and the amount of compensation may change before the final ruling. Until the court issues a further decision, it is necessary to verify the facts by focusing on the related proceedings.