“Of the 510 billion in damages from Optimus, only 40 billion will be saved” … Seller receives no compensation



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◆ Obsolete Optimus ◆

The result of the due diligence was that the recoverable amount of the 500 billion won Optimus fund funds tied up due to the suspension of the swap could be only 40 billion won. It means that it is inevitable to deal with losses greater than 90% of the size of the trade stop. Damaged investors are expected to focus on resolving disputes with sellers, as the possibility of compensation through asset recovery is low. However, considering the process of adjusting the fund’s base price, determining the loss ratio, and appointing a manager to manage and recover the fund after the due diligence results are released, there is a possibility that compensation will be reduced. final.

The Financial Oversight Service announced on the 11th through the ‘Optimus Asset Management Fund Due Diligence Data’ of the Accounting Firm Samil that the recoverable amount of assets of the 5146 billion won from the termination of the redemption of the Optimus Fund ranges from at least 7.8% (401 billion won) to a maximum of 15.2% (783 billion won). Currently, the exchange suspension amount (set amount) is 5146 billion won (46 funds), and the amount of money lost due to embezzlement and reversal is 163.1 billion won. This amount can be partially recovered by tracking funds during the prosecution’s investigation. Excluding the missing 163.1 billion won, real estate, stocks, and bonds were 3.515 billion won. As a result of the analysis of these assets, the Samil Accounting Firm analyzed that total class A recoverable assets amounted to only 4.5 billion won, and some class B recoverable assets were only 54.3 billion won. The remainder amounted to 83.3% of the total, with class C assets of 2.927 billion won, whose recovery is questionable.

Based on the results of this due diligence, the Financial Supervision Service plans to form an advisory body focused on the sale of securities companies and initiate dispute resolution measures to compensate for the damages. The advisory body plans to designate the main management company to collect the insolvent fund by transferring it, determine the amount of the damage and respond to the resolution of disputes. According to the Financial Supervision Service, a total of 265 requests for dispute resolution were submitted to Optimus at the end of last month.

Since the return of the proceeds of crime by the prosecution remains a variable, it is anticipated that it will take considerable time before the Dispute Mediation Committee decides on a recommendation for compensation. If the prosecution determines that certain investments among the Optimus Fund funds are criminal proceeds, they can be attributed to the treasury after judicial deliberation, in which case the amount recovered will inevitably decrease.

In addition, the rate of compensation is anticipated to be less than the Lime incident that resulted in 100% compensation for the investment amount, even if it reaches the FSS dispute resolution committee. In the Lime crisis, the Dispute Mediation Committee made the decision to cancel the contract due to an error, but this is an issue that had a public offering relationship with the seller. It is the view that the Optimus case is a case in which the provider is not directly involved.

Victims will eventually be able to receive compensation through court proceedings, but it will also take a considerable amount of time before a final judgment is rendered. The legal and financial investment industry cautions that it is realistic to ask the FSS or the court to reimburse the joint liability of NH Investment & Securities as seller, Hana Bank as trust bank and Korea Securities Depository, an office management company, to recover more investor investment. It is coming out.

This is because not only the seller, but also Hana Bank and KFTC can claim compensation for not properly supervising while receiving fees from the fund. In fact, KEPCO, which invested in Optimus Fund as an internal welfare fund, filed a lawsuit against NH Investment & Securities for cancellation due to fraud or error, and also filed a lawsuit against KSD and Hana Bank for damages due to joint illegal activities. .

NH Investment & Securities acknowledged the results of Samil Accounting Corporation’s conservative due diligence, but insisted that it is possible to recover assets of up to 110 billion won as a result of its own client asset recovery TF team. NH Investment & Securities aims to maximize the collection of real estate assets currently in lawsuits classified as non-recoverable, except that the amount of subscriptions to the funds of Optimus affiliates (TrustAll, Atri Paradise, etc.) are excluded from the distribution. as assets related to crime.

[강두순 기자 / 진영태 기자]

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