[6-K] Redhill Biopharma Ltd. Current Report (Foreign Issuer)
RedHill Biopharma Ltd. announced that the New York Supreme Court awarded the company approximately $1.82 million in legal costs and expenses, in addition to a prior summary judgment award of approximately $8.25 million, with a 9% ongoing statutory interest applicable to both awards. The company also obtained a court-ordered attachment from Korea's Incheon District Court to seize Kukbo Co. Ltd.'s assets pending enforcement. Kukbo appealed the summary judgment on December 4, 2024, and briefing on that appeal is complete with oral argument tentatively scheduled for the September term; Kukbo may also appeal the legal-costs award. The release reiterates RedHill's clinical and commercial programs and includes standard forward-looking risk disclosures.
RedHill Biopharma Ltd. ha comunicato che la New York Supreme Court ha riconosciuto all'azienda circa $1.82 million per spese legali e oneri, oltre a un precedente decreto sommario di circa $8.25 million, con un tasso di interesse legale continuativo del 9% applicabile a entrambi gli importi. La società ha inoltre ottenuto un provvedimento di sequestro emesso dalla Corte Distrettuale di Incheon, Corea, per congelare i beni di Kukbo Co. Ltd. in vista dell'esecuzione. Kukbo ha presentato appello contro il decreto sommario il 4 dicembre 2024; il procedimento d'appello è stato completato nella fase di memorie e l'udienza orale è provvisoriamente prevista per la sessione di settembre. Kukbo potrebbe inoltre impugnare anche l'assegnazione delle spese legali. Il comunicato ribadisce i programmi clinici e commerciali di RedHill e contiene le consuete avvertenze sui rischi prospettici.
RedHill Biopharma Ltd. anunció que la Corte Suprema de Nueva York concedió a la compañía aproximadamente $1.82 million por costas y gastos legales, además de un fallo sumario previo por aproximadamente $8.25 million, con un interés legal continuo del 9% aplicable a ambos montos. La empresa también obtuvo una orden de embargo del Tribunal de Distrito de Incheon, Corea, para incautar los activos de Kukbo Co. Ltd. mientras se tramita la ejecución. Kukbo apeló el fallo sumario el 4 de diciembre de 2024; el expediente de la apelación está completo y la vista oral está provisionalmente programada para el periodo de septiembre. Kukbo podría además apelar la adjudicación de las costas. El comunicado reitera los programas clínicos y comerciales de RedHill e incluye las habituales advertencias prospectivas sobre riesgos.
RedHill Biopharma Ltd.는 뉴욕 주 대법원이 회사에 대해 약 $1.82 million의 소송 비용 및 경비를, 이전의 약 $8.25 million의 요약 판결 외에 각각 인정했으며 두 금액 모두에 대해 9%의 지속적인 법정 이자가 적용된다고 발표했습니다. 회사는 또한 집행을 앞두고 Kukbo Co. Ltd.의 자산을 압류하기 위해 인천지방법원으로부터 법원명령에 따른 가압류를 받았습니다. Kukbo는 2024년 12월 4일 요약 판결에 항소했으며, 항소 관련 서면 제출은 완료되었고 구두변론은 9월 기일에 잠정적으로 예정되어 있습니다. Kukbo는 소송 비용 인정에도 항소할 수 있습니다. 보도자료는 RedHill의 임상 및 사업 프로그램을 재확인하며 일반적인 미래예측 위험 고지를 포함하고 있습니다.
RedHill Biopharma Ltd. a annoncé que la New York Supreme Court a accordé à la société environ $1.82 million au titre des frais et dépenses juridiques, en plus d'un jugement sommaire antérieur d'environ $8.25 million, les deux montants portant un intérêt légal continu de 9%. La société a également obtenu une saisie conservatoire ordonnée par le tribunal de district d'Incheon, en Corée, afin de geler les actifs de Kukbo Co. Ltd. en vue de l'exécution. Kukbo a fait appel du jugement sommaire le 4 décembre 2024 ; les conclusions d'appel sont déposées et l'audience orale est provisoirement prévue pour la session de septembre. Kukbo pourrait également faire appel de la décision relative aux frais de justice. Le communiqué réaffirme les programmes cliniques et commerciaux de RedHill et comporte les habituelles mises en garde prospectives.
RedHill Biopharma Ltd. gab bekannt, dass das New York Supreme Court dem Unternehmen etwa $1.82 million an Rechtskosten und Auslagen zugesprochen hat, zusätzlich zu einem früheren summarischen Urteil von etwa $8.25 million, wobei auf beide Beträge ein fortlaufender gesetzlicher Zinssatz von 9% angewendet wird. Das Unternehmen erlangte außerdem eine gerichtliche Pfändungsverfügung des Incheon District Court in Korea, um Vermögenswerte der Kukbo Co. Ltd. zur Vollstreckung sicherzustellen. Kukbo legte am 4. Dezember 2024 Berufung gegen das summarische Urteil ein; die Schriftsätze für die Berufung sind abgeschlossen, und die mündliche Verhandlung ist vorläufig für den Septembertermin angesetzt. Kukbo kann auch gegen die Entscheidung über die Rechtskosten Berufung einlegen. Die Mitteilung bekräftigt RedHills klinische und kommerziellen Programme und enthält die üblichen zukunftsgerichteten Risikohinweise.
- Approximately $1.82 million in legal costs and expenses awarded in addition to a prior $8.25 million summary judgment
- 9% ongoing statutory interest applies to both the original judgment and the costs award, increasing recoverable amounts over time
- Incheon District Court attachment prevents Kukbo from disposing of assets, enhancing enforcement prospects while appeals proceed
- Award and costs remain subject to appeal (Kukbo appealed the summary judgment; Kukbo may appeal the costs award), so amounts are not yet final or collectible
- Cross-border enforcement risk — successful collection depends on execution of judgments across U.S. and Korean jurisdictions and Kukbo's financial condition
Insights
TL;DR: Court awards materially strengthen RedHill's claim recovery and create near-term enforcement leverage via asset attachment.
The combined awards of about $10.07 million plus 9% statutory interest improve RedHill's potential recoverable position in its dispute with Kukbo and may meaningfully affect the company's cash recovery prospects if enforced. The Incheon District Court's attachment grant provides actionable protection against asset dissipation while appeals proceed, which enhances enforceability across jurisdictions. However, appeals remain pending, creating timing and execution risk; Kukbo's right to appeal the costs award means the amounts are not yet finally collectible.
TL;DR: Legal judgment is a positive development but subject to appellate and cross-border enforcement risks.
The awards strengthen RedHill's legal position and could improve balance-sheet outcomes if realized, but appellate review and cross-jurisdiction enforcement introduce uncertainty and potential delay. Investors should note the 9% interest accrual increases the nominal value over time, yet collection depends on Kukbo's solvency, successful enforcement in Korea and the outcome of pending appeals. The press release correctly highlights these procedural and execution risks alongside the company's ongoing clinical and commercial activities.
RedHill Biopharma Ltd. ha comunicato che la New York Supreme Court ha riconosciuto all'azienda circa $1.82 million per spese legali e oneri, oltre a un precedente decreto sommario di circa $8.25 million, con un tasso di interesse legale continuativo del 9% applicabile a entrambi gli importi. La società ha inoltre ottenuto un provvedimento di sequestro emesso dalla Corte Distrettuale di Incheon, Corea, per congelare i beni di Kukbo Co. Ltd. in vista dell'esecuzione. Kukbo ha presentato appello contro il decreto sommario il 4 dicembre 2024; il procedimento d'appello è stato completato nella fase di memorie e l'udienza orale è provvisoriamente prevista per la sessione di settembre. Kukbo potrebbe inoltre impugnare anche l'assegnazione delle spese legali. Il comunicato ribadisce i programmi clinici e commerciali di RedHill e contiene le consuete avvertenze sui rischi prospettici.
RedHill Biopharma Ltd. anunció que la Corte Suprema de Nueva York concedió a la compañía aproximadamente $1.82 million por costas y gastos legales, además de un fallo sumario previo por aproximadamente $8.25 million, con un interés legal continuo del 9% aplicable a ambos montos. La empresa también obtuvo una orden de embargo del Tribunal de Distrito de Incheon, Corea, para incautar los activos de Kukbo Co. Ltd. mientras se tramita la ejecución. Kukbo apeló el fallo sumario el 4 de diciembre de 2024; el expediente de la apelación está completo y la vista oral está provisionalmente programada para el periodo de septiembre. Kukbo podría además apelar la adjudicación de las costas. El comunicado reitera los programas clínicos y comerciales de RedHill e incluye las habituales advertencias prospectivas sobre riesgos.
RedHill Biopharma Ltd.는 뉴욕 주 대법원이 회사에 대해 약 $1.82 million의 소송 비용 및 경비를, 이전의 약 $8.25 million의 요약 판결 외에 각각 인정했으며 두 금액 모두에 대해 9%의 지속적인 법정 이자가 적용된다고 발표했습니다. 회사는 또한 집행을 앞두고 Kukbo Co. Ltd.의 자산을 압류하기 위해 인천지방법원으로부터 법원명령에 따른 가압류를 받았습니다. Kukbo는 2024년 12월 4일 요약 판결에 항소했으며, 항소 관련 서면 제출은 완료되었고 구두변론은 9월 기일에 잠정적으로 예정되어 있습니다. Kukbo는 소송 비용 인정에도 항소할 수 있습니다. 보도자료는 RedHill의 임상 및 사업 프로그램을 재확인하며 일반적인 미래예측 위험 고지를 포함하고 있습니다.
RedHill Biopharma Ltd. a annoncé que la New York Supreme Court a accordé à la société environ $1.82 million au titre des frais et dépenses juridiques, en plus d'un jugement sommaire antérieur d'environ $8.25 million, les deux montants portant un intérêt légal continu de 9%. La société a également obtenu une saisie conservatoire ordonnée par le tribunal de district d'Incheon, en Corée, afin de geler les actifs de Kukbo Co. Ltd. en vue de l'exécution. Kukbo a fait appel du jugement sommaire le 4 décembre 2024 ; les conclusions d'appel sont déposées et l'audience orale est provisoirement prévue pour la session de septembre. Kukbo pourrait également faire appel de la décision relative aux frais de justice. Le communiqué réaffirme les programmes cliniques et commerciaux de RedHill et comporte les habituelles mises en garde prospectives.
RedHill Biopharma Ltd. gab bekannt, dass das New York Supreme Court dem Unternehmen etwa $1.82 million an Rechtskosten und Auslagen zugesprochen hat, zusätzlich zu einem früheren summarischen Urteil von etwa $8.25 million, wobei auf beide Beträge ein fortlaufender gesetzlicher Zinssatz von 9% angewendet wird. Das Unternehmen erlangte außerdem eine gerichtliche Pfändungsverfügung des Incheon District Court in Korea, um Vermögenswerte der Kukbo Co. Ltd. zur Vollstreckung sicherzustellen. Kukbo legte am 4. Dezember 2024 Berufung gegen das summarische Urteil ein; die Schriftsätze für die Berufung sind abgeschlossen, und die mündliche Verhandlung ist vorläufig für den Septembertermin angesetzt. Kukbo kann auch gegen die Entscheidung über die Rechtskosten Berufung einlegen. Die Mitteilung bekräftigt RedHills klinische und kommerziellen Programme und enthält die üblichen zukunftsgerichteten Risikohinweise.
FAQ
What amounts did RedHill (RDHL) win against Kukbo?
RedHill was awarded approximately $8.25 million in the prior summary judgment and an additional $1.82 million in legal costs and expenses, both with 9% statutory interest.
Is the legal award final and collectible?
No. Kukbo appealed the summary judgment on December 4, 2024, and Kukbo may also appeal the costs award, so the amounts are not yet final or collectible.
What enforcement steps has RedHill taken to secure recovery?
RedHill obtained a court-ordered attachment from Korea's Incheon District Court to seize Kukbo's assets and prevent disposal pending enforcement.
How does interest affect the awards?
Both the $8.25 million summary judgment and the $1.82 million costs award accrue 9% ongoing statutory interest, increasing the nominal recoverable amounts over time.
Will this legal outcome affect RedHill's clinical programs?
The press release restates RedHill's clinical and commercial programs but does not state any direct operational changes tied to the legal awards.