Schindler to boycott Hyundai Elevator’s paid-in capital increase
Feb 3, 2014
Schindler Holding AG, a leading global moving solutions provider, said Monday it would boycott Hyundai Elevator Co.’s decision to seek a paid-in capital increase that it says does nothing to improve the situation of the elevator company.The announcement follows Schindler’s compensation lawsuit last month against the South Korean company, claiming financial damages from Hyundai Elevator’s derivatives contract. Schindler claims that the contract was a calculated strategy to allow Hyundai Group’s c