Mirae Asset Daewoo awarded US$5.1m claim against ex-honestbee CEO Joel Sng

SOUTH Korean brokerage Mirae Asset Daewoo has been awarded a summary judgment for a US$5.1 million claim against former honestbee chief executive Joel Sng, according to a High Court grounds of decision released on Thursday.

Mirae Asset had sued Mr Sng last year for allegedly failing to deliver honestbee shares, after the brokerage paid US$5.1 million for some of Mr Sng's shares in the grocery delivery startup.

Mirae Asset is the trustee of an entity called DS Sng Hedge Fund, and filed the lawsuit on behalf of the fund. Mirae Asset subsequently filed a summary judgment application against Mr Sng - which involves moving to a court decision without a full trial.