The South Korean Supreme Court rejected the appeal of the former Fantom CEO, and the Fantom Foundation won the case

2024-11-04 17:19:31

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ChainCatcher news, Michael Kong, the current CEO of the Fantom Foundation, announced that the Supreme Court of Korea unanimously dismissed all appeals by former Fantom CEO Byung-Ik Ahn on October 31, 2024. This means that the favorable ruling made by the Seoul High Court on June 19, 2024, in favor of the Fantom Foundation has been fully upheld, bringing an end to this legal dispute that has lasted for more than two years.

In its ruling, the Supreme Court of Korea stated that after a comprehensive review, the appellant's claims lacked legal basis. Previously, Byung-Ik Ahn had repeatedly claimed that the foundation was "stolen," but the Seoul High Court determined that "there is no evidence to support this." Michael Kong particularly thanked the contributions of legal advisor RosettaLegal, stating that their accurate advice and in-depth understanding of the case played a crucial role in the victory. This ruling clears legal obstacles for the future development of the Fantom Foundation and is expected to boost market confidence in the project.

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