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| 메리츠증권 사옥. (사진=메리츠증권) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Lotte Insurance Co. and Meritz Securities Co. are at odds over funds related to the U.S. Frontera gas-fired power plant.
Lotte Insurance filed a complaint with the Financial Supervisory Service asking for an investigation into the illegality of Meritz Securities Co., which sold the related funds to the company.
In response, Meritz Securities refutes that it does not make sense that it did not notify Lotte Insurance of the risk even though it did due diligence on the spot.
According to the financial sector on the 8th, Lotte Insurance filed a complaint with the Financial Supervisory Service on the 6th that the sale of funds related to Meritz Securities' Frontera power plant caused heavy losses to the company due to illegality.
Lotte Insurance received an investment recommendation from Meritz Securities and invested 50 million dollars (about 65 billion won) in the fund in February 2019. At that time, KDB Life Insurance, the Korea Exchange, Kyowon Life, and the Teachers' Credit Union were also invested. At that time, Lotte Insurance's investment was made by receiving sell-down· resale of profitable securities from Meritz Securities.
The problem arose when U.S. companies related to the fund declared default and the corporate rehabilitation process ended in August 2021. As a result, Lotte Insurance lost the entire amount in two years and six months of investment.
Lotte Insurance claimed that Meritz Securities did not notify the fund of the possibility of an increase in loan principal and interest and the risk of collateral structure, although it said its sales revenue was guaranteed in a stable manner at the time of the fund's recommendation for investment.
In response, Meritz Securities countered, "We resold the fund to Lotte Insurance and others after acquiring the total amount and have not been involved in fund management."
AlphaBIZ 폴리(hoondork1977@alphabiz.co.kr)
