Ok Joo-hyun’s 19 billion won Hanam The Hill seizure lifted after five days… auction still ongoing

*This content was translated by AI.View Original

Ok Joo-hyun, a singer and musical actress who was a member of the group Fin.K.L, had the seizure order on her high-end residence “Hanam The Hill,” purchased for 19 billion won, lifted.

According to Maeil Business Newspaper Star Today on the 13th, the Yongsan-gu Office’s seizure order on Hanam The Hill Penthouse in Hannam-dong, Yongsan-gu, Seoul, owned by Ok Joo-hyun was lifted on the 11th.

Previously, it was reported that the Tax Administration Division of the Yongsan-gu Office had seized the property on the 6th. However, with the seizure order lifted just five days later, attention is turning to the status of Ok Joo-hyun’s debt settlement.

Ok Joo-hyun purchased the property for 19 billion won last year and completed the ownership transfer registration in April. However, controversy arose after it was revealed that she received a decision from the Seoul Western District Court on the 14th of last month to initiate a voluntary auction due to issues with repaying a collateral loan.

However, the specific reason why the Yongsan-gu Office seized and then lifted the seizure on the property has not been confirmed. Seizure orders by local governments are generally carried out in relation to tax delinquencies such as local taxes, but it is unknown what grounds this particular order was based on.

Additionally, separate from the lifting of the district office’s seizure order, the court’s voluntary auction proceedings are still ongoing. As a result, attention is focused on whether any changes will occur in the future debt settlement process and auction procedures.

Previously, Ok Joo-hyun’s side explained regarding the initiation of the voluntary auction that it was “a debt settlement procedure following the successful mergers and acquisitions (M&A) between a corporation and an investment firm.”

They further stated, “We are currently proceeding with specific debt repayment and settlement procedures with the investment firm, and the investment firm plans to repay the full amount of the related loan in accordance with the business plan.”

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*This content was translated by AI.View Original