[THE INVESTOR] A legal battle between SPC Group -- the operator of South Korea’s largest bakery chain -- and a former executive has ended in favor of the company.

Former Paris Croissant chief executive Jung Tae-soo automatically lost the suit when he failed to appeal a lower court ruling that ruled in favor of SPC, industry sources said on June 23.  

SPC is the parent company of Paris Croissant, a popular bakery and coffee shop chain. In December 2014, Jung, 61, sued SPC for unjustified dismissal. 

 The former executive had been employed as CEO of Paris Croissant from March of 2013 to May of 2014. But Jung‘s relations with SPC soon soured due to a number of allegations, over which the two have conflicting arguments.

SPC Group said Jung was dismissed after he was found incapable of fulfilling his duties as board member. The firm also says Jung abused corporate credit cards.

Jung refuted the allegations, saying they were groundless.

Immediately after his dismissal, SPC asked Jung to rejoin as an adviser but he refused. In September of 2014, the former CEO was removed from the SPC board, prompting him to file the lawsuit a few months later.

Both of the nation’s lower courts recently ruled that Jung‘s dismissal was based on valid grounds.

By Kim Ji-hyun (jemmie@heraldcorp.com)