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JYJ Junsu involved in payment dispute with two construction companies re: his Toscana hotel in Jeju + UPDATE: Toscana denies, plans to counter-sue

Teru

By Teru
in Celebrity News & Gossip

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Teru Legend

Teru

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20141210192706526.jpeg


 


Daum: http://media.daum.net/entertain/star/newsview?newsid=20141210184803900


Naver: http://m.news.naver.com/read.nhn?mode=LSD&mid=sec&sid1=106&oid=079&aid=0002662266


(article is the same, from No Cut News)


 


no full trans yet but @shinkipeia provided a general summary:


 


B4fRvehCEAA2YzZ.png


https://twitter.com/shinkipeia/status/542632895194484736


 


additional update:


"My bad, the construction fee involved in Toscana's legal dispute should be 5 billion KRW."


https://twitter.com/shinkipeia/status/542633759921541120


 


Soompi article:


 


JYJ’s Junsu in Legal Disputes for Loans and Unpaid Costs Regarding His Jeju Island Hotel


 


JYJ‘s Junsu is involved in a financial issue regarding the construction of his luxury hotel on Jeju Island.

 

Jeju Island’s paper Jeju Citizen Daily reported on December 10, “JYJ’s Junsu has been sued for not paying back some of the costs of construction on the 28 billion won luxury hotel.â€

 

They continued, “We are expecting further lawsuit in court, and if he loses his case, he will have to repay over 5 billion won (approximately $4.5 million USD).â€

 

According to the report, Junsu entrusted the construction of his hotel to two construction companies A and B from April of 2013 to August of this year. In order to pay for constructions, he borrowed money from the National Agricultural Cooperative Federation by mortgaging his hotel and the property.

 

However, his promissory note issued by the Korea Exchange Bank during the investment period expired, leaving Junsu with the possibility of bankruptcy. He then asked the two construction companies to lend him funds.

 

Consequently, construction company A and B loaned money to Junsu with an IOU specifying that he will repay them by September 30. They each respectively lent him 1.87 billion won and 3.03 billion won.

 

The two construction companies explained that although they have notified him multiple times, he has yet to pay back any of his debts.

 

Furthermore, the construction companies also filed for unpaid construction costs, 286 million won for A and 561 million won for B.

 

The two construction companies then filed an order of payment of 5 billion won against Junsu. Construction company A also requested for provisional attachment of his property with a value of 1.8 billion won.

 

On November 17, the Jeju District Court accepted the case, and ordered for the provisional attachment of Junsu’s property. Nine days after the court’s decision, Junsu submitted a statement of protest. While part of his property has been seized according to the court’s decision, Junsu is preparing a more detailed response to back up his statement of protest.

 

Junsu’s father, who is in charge of managing the hotel, told the media outlet in a phone call, “The claims put forth by the construction companies are one-sided,†adding, “we are preparing to take legal actions against them.â€

 

He also commented, “It is true that we got a loan from the National Agricultural Cooperative Federation, but we never borrowed money from the construction companies. We did write an IOU with the companies, but we have evidence that the money was not borrowed. We cannot make an official statement currently but the decision will be ultimately made in court.â€

 

He also stated, “With an expert, we are looking into whether the construction was done properly, and if the materials were used efficiently on the hotel. When we complete this process by the end of the month, we will be able to draw up the construction costs.â€

 

JYJ’s agency C-JeS Entertainment told the media that they were not notified of the matter, and that they will comment after confirming.

 

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junsu-hotel.jpg

 


 

Update from Allkpop: 

Junsu's Toscana Hotel denies the accusations by the construction companies + plans to counter-sue

 


JYJ's Junsu's Toscana Hotel has released their official position on the accusations reported earlier today to deny the claims made by the construction companies.

 

As mentioned before, it was mentioned that two construction companies had filed against Junsu and the hotel demanding that they be paid 5 billion KRW (~ $4.5 million USD) for the building construction and other fees that they supposedly had loaned out. The construction companies claimed that they had received IOUs promising to be paid back, but that Junsu and the hotel had failed to do so.

 

The hotel, through their lawyer, has denied that they have any financial obligation to these construction companies and also stated that these companies are using Junsu's status as a Hallyu star for monetary gain.

 

The lawyer also stated through the hotel's press release, "We are starting to find evidence that the two construction companies have embezzled the construction fee that they had exaggerated up to double the actual amount... We will take firm legal measures through a lawsuit."

 

The hotel also acknowledged the fact that they did write promissory notes (IOUs) to these companies, but that they had only written it at the request of the companies who had told them that they were needed for financial documentation.

 

Like the hotel's claims, the copy of the IOU they provided states at the bottom, "I acknowledge that the promissory note is for the use of the bank or company's financial documentation and is not an actual amount to be reimbursed," followed by the signature of one of the construction companies' CEO.

 

 

Junsu_1418279927_toscana.jpg

 

The lawyer added, "As shown, IOUs that have been made for false documentation through a mutual agreement are not valid, and there is no actual amount that we have loaned from the construction companies. And because the money that we loaned from the bank was delivered to us through the construction companies themselves, their claims are absurd."

 

The hotel's rep also revealed that because they had feared this exact outcome with the construction companies trying to demand money, the hotel had made sure to get the signatures in advance on the IOUs acknowledging that the promissory note is purely for documentation.

 

It's been said that CEO Kim Junsu had received a loan from Korea Exchange Bank for the amount of 15 billion KRW, and used 9 billion KRW of it to pay back their loan from Nonghyup (National Agricultural Cooperative Federation). The hotel's lawyer commented, "During this process, the remainder 6 billion KRW [loan from the bank] was sent directly to the construction companies for the funding of the facilities, and the repayment obligation is on CEO Kim Junsu... Because of this, there is no reason in the first place for CEO Kim Junsu to repay the construction companies," explaining that Junsu has repayment responsibility only to the bank.

 

The hotel is said to be in the midst of getting ready to file a counter lawsuit against the construction companies for defamation as well as possible embezzlement of the construction fee that the hotel had paid them.

 


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nekun Superstar

nekun

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I'm more surprised knowing that you are the OP Teru..

Why..you are the nicest TVXQ current fans in this site for me..but you make a post about Junsu oppa..like why..???

 

I mean..a bad news about JYJ member posted by TVXQ only fans is just...just...

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Teru Legend

Teru

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I'm more surprised knowing that you are the OP Teru..

Why..you are the nicest TVXQ current fans in this site for me..but you make a post about Junsu oppa..like why..???

 

I mean..a bad news about JYJ member posted by TVXQ only fans is just...just...

 

because it's news? I'm a fan of Junsu as a soloist so it's relevant to my interests... it was all over my tlist, and I was surprised no one had posted it yet, so I decided to.

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TiramiQ Legend

TiramiQ

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I'm more surprised knowing that you are the OP Teru..

Why..you are the nicest TVXQ current fans in this site for me..but you make a post about Junsu oppa..like why..???

 

I mean..a bad news about JYJ member posted by TVXQ only fans is just...just...

 

tumblr_mufvm5ApRT1sh559jo1_250.gif

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Meth Krystal Legend

Meth Krystal

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I'm more surprised knowing that you are the OP Teru..

Why..you are the nicest TVXQ current fans in this site for me..but you make a post about Junsu oppa..like why..???

 

I mean..a bad news about JYJ member posted by TVXQ only fans is just...just...

 

I can almost hear the blubbering...

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Souloist Global Superstar

Souloist

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I'm more surprised knowing that you are the OP Teru..
Why..you are the nicest TVXQ current fans in this site for me..but you make a post about Junsu oppa..like why..???

I mean..a bad news about JYJ member posted by TVXQ only fans is just...just...

 

But there is no malice intended by posting this. It's only news after all.

And don't stereotype TVXQ-only fans :/

 

Anyways, whether a JYJ fan or TVXQ fan posted it, the content is still the same.

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MOO MOO Star

MOO MOO

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I'm more surprised knowing that you are the OP Teru..

Why..you are the nicest TVXQ current fans in this site for me..but you make a post about Junsu oppa..like why..???

 

I mean..a bad news about JYJ member posted by TVXQ only fans is just...just...

I hope you're just trolling... :imstupid:

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sumikosan Nation's First Love

sumikosan

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OK Let me put this into the right perspective.I was waiting to find out who will be the OP.

 

Hope this help everyone to understand Junsu's Toscana legal dispute better

 

 

B4fRvehCEAA2YzZ.png:largeJunsu's Toscana is involved in a legal dispute of 5 billion KRW construction cost. C-JeS is checking the situation now
 
JYJ 김준수, 5ì–µ 공사대금 소송 휘ë§ë ¤ http://m.news.naver.com/read.nhn?mode=LSD&mid=sec&sid1=106&oid=079&aid=0002662266 â€¦
 
ok. Apparently this rumor was blown up by the media for media play because it is Junsu and we know he was not even managing the hotel. His father is taking charge of the dispute and there is going to be some court action taken . .
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i_apologize Legend

i_apologize

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Some people doesn't know the meaning of investment.

 

So they gave money (for investment), then want it back as soon as possible -.-

 

Kinda the same with investment in Jtune. Like the news will be "2 years ago.." like does investments give profit in 2 years? -.-

 

Even BAP's investments need 4 years to show any profit.

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Wyu Senior Idol

Wyu

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If it's like his father say, then he has nothing to worry.

 

 

I'm more surprised knowing that you are the OP Teru..
Why..you are the nicest TVXQ current fans in this site for me..but you make a post about Junsu oppa..like why..???

I mean..a bad news about JYJ member posted by TVXQ only fans is just...just...

 

What the heck......Even i know she's a fan of Junsu solo work and praises him........

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Wyu Senior Idol

Wyu

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OK Let me put this into the right perspective.I was waiting to find out who will be the OP.

 

Hope this help everyone to understand Junsu's Toscana legal dispute better

 

 

B4fRvehCEAA2YzZ.png:largeJunsu's Toscana is involved in a legal dispute of 5 billion KRW construction cost. C-JeS is checking the situation now
 
JYJ 김준수, 5ì–µ 공사대금 소송 휘ë§ë ¤ http://m.news.naver.com/read.nhn?mode=LSD&mid=sec&sid1=106&oid=079&aid=0002662266 â€¦
 
ok. Apparently this rumor was blown up by the media for media play because it is Junsu and we know he was not even managing the hotel. His father is taking charge of the dispute and there is going to be some court action taken . .

 

 

But this is exactly what OP posted?

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sumikosan Nation's First Love

sumikosan

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Apparently this rumor (commented by one of the hotel staff on the article)was blown up by the media for media play because it is Junsu and we know he was not even managing the hotel. His father is taking charge of the dispute and there is going to be some court action taken . .At this stage because they are taking it to court, they cannot elaborate on the issue.

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Wyu Senior Idol

Wyu

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Apparently this rumor was blown up by the media for media play because it is Junsu and we know he was not even managing the hotel. His father is taking charge of the dispute and there is going to be some court action taken . .

 i was talking about:

 

 

 

OK Let me put this into the right perspective.I was waiting to find out who will be the OP.

 

Hope this help everyone to understand Junsu's Toscana legal dispute better

 

 

B4fRvehCEAA2YzZ.png:largeJunsu's Toscana is involved in a legal dispute of 5 billion KRW construction cost. C-JeS is checking the situation now
 
JYJ 김준수, 5ì–µ 공사대금 소송 휘ë§ë ¤ http://m.news.naver.com/read.nhn?mode=LSD&mid=sec&sid1=106&oid=079&aid=0002662266 â€¦

 

 
But anyway, you just repeated to add that comment, i guess. Do you have some legit source about being a rumor? Would clarify better the situation and could be added to OP, i think.
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