The Seoul Central District Court dismissed on Wednesday prosecutors’ request to issue arrest warrants for MBK Partners’ billionaire cofounder and chairman Michael Kim and three other executives tied to his private equity firm and portfolio company Homeplus. The decision is the latest development in a nearly year-long fraud investigation into MBK Partners’ handling of Homeplus’ bond issuance just days before a credit downgrade.

South Korean prosecutors last week requested arrest warrants for Kim and the executives on charges of fraud and violation of the........

© Forbes