News & Insights
Latest news and legal insights from HANBYOL LAW LLC.
Can't be repaid even with recovery or bankruptcy?...Daniel damages are so large that even the lawyers...
While Adobe has announced that it will sue Daniel for penalties and damages for breach of the exclusive contract, Jang Jang-soo of Hanbyul Law Firm said that if the breach of the exclusive contract is found to be intentional rather than negligent, the damages could become a non-exempt debt that cannot be discharged in personal rehabilitation or bankruptcy. This means that tens of billions of won of liability could be exempted in the future.
Lawyer Chang explained that creditors can garnish the debtor's monthly salary minus the minimum living expenses for life. He also pointed out that while there is a ban on garnishment of up to 2.5 million won per month from February next year for working earners, entertainers are generally classified as business earners and have limited protection as their entire settlement proceeds can be garnished. As for additional claims against the family or former representative Min Hee-jin, the scope of liability may vary depending on whether the court ruling is confirmed, such as embezzlement, he added.

