FT Island win a suit over the right to use their image

On October 9, the 13th Department of the Seoul Central District Court decided in FT Island’s favor, saying, “The defendant shall pay forty million won to FT Island,” regarding FT Island’s suit against Dereon Cosmetics for using the group’s image without permission. The suit was filed in February.

FT Island made a six-month contract with Derecon Cosmetics in April last year, but only for the domestic market. However, even after the contract expired, the company used pictures of FT Island in some other Asian countries, including Japan and Malaysia, so FT Island filed a suit over this violation of the right to use their image.

However, Dereon Cosmetics has been in financial trouble and eventually asked for government aid.

The government is helping the company revive its business by appointing a manager. As a new manager has been appointed, FT Island has had to refile the suit, against a different party.

The company seems to be unable to pay its debts on time, because its liabilities exceed its assets or it lacks liquidity.

At this, the court ordered, “We will allow Dereon to pay eight million won to each member of FT Island, and the remainder of the total debt incurred from March 9 shall be set aside as subordinated debenture, 20 percent of which is to be paid annually until the entire debt is paid off.”

In the original suit filed in February, FT Island asked for two hundred million won in damages.

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