Previous Story
Korean firm accuses former exec of hiding in NMI
|
Posted on Oct 31 2004
A Korean firm sued its former executive at the Superior Court Friday, accusing him of hiding in the Northern Marianas to evade the payment of his debt.
Lawyer Robert O’Connor filed the lawsuit on behalf of Colliers International Korea Co. Ltd., impleading one Robert H. Kwon, also known as Bobby Hyuk Kwon, as defendant in a civil complaint.
The company accused Kwon of pocketing some KRW 71,060,507 (US$ 59,217) by making unauthorized cash withdrawals from the firm from June 2002 to March 2003. O’Connor said Kwon was employed by Colliers as managing director in its South Korea office from 2001 to 2003.
O’Connor said the clear intent of the withdrawals was to deprive Colliers of the money for Kwon’s own benefit.
In April 2003, the lawyer said Colliers terminated Kwon’s employment on mutual agreement with the defendant. At the same time, Colliers and Kwon executed in South Korea an agreement which provided that the former executive would pay the withdrawn amount in two installments.
Under the agreement, Kwon was to pay Colliers KRW 20 million by April 22, 2003 and the remaining KRW 51,060,507 by Oct. 21, 2003, the complaint alleged.
O’Connor said Kwon paid the first installment but failed to pay the balance amounting to an equivalent of $42,550. He said Kwon then fled South Korea to live and hide in the Commonwealth. Kwon allegedly refused to settle his debt despite demand.
The lawyer asked the court to compel Kwon to pay Colliers the remaining balance plus punitive damages and costs incidental to the filing of the lawsuit. (John Ravelo)
