RedHill initiates enforcement of $10.9 million judgment in Korea

RedHill Biopharma Ltd. (NASDAQ: RDHL) has commenced recognition and enforcement proceedings in Korea for a New York Supreme Court judgment totaling approximately $10.9 million against Kukbo Co. Ltd., according to a company statement.

The judgment became final in November 2025 after the New York Supreme Court ruled in favor of RedHill. An additional award for legal fees and expenses became final in March 2026 when Kukbo failed to perfect its appeal by the applicable deadline. No further appeals are permitted for either judgment.

The total award consists of approximately $8.9 million for the main judgment and approximately $1.95 million for legal fees and expenses. Both amounts include principal amounts and accrued 9% statutory interest, which continues to accumulate.

RedHill previously obtained a Korean court attachment grant against Kukbo to prevent the company from disposing of assets before judgment enforcement. Kukbo has been served in the Korean proceedings, and RedHill now awaits the company's response and further court scheduling.

The company stated that no assurances can be provided regarding the timing of any recovery or the amount that may be recovered, including whether RedHill will collect all or any portion of the awarded amounts.

RedHill Biopharma is a specialty biopharmaceutical company focused on U.S. development and commercialization of drugs for gastrointestinal diseases, infectious diseases and oncology.

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