MBK Partners has avoided the worst-case scenario of a leadership vacuum after the court rejected a prosecution request for warrants to detain Chairman Michael ByungJu Kim and three other executives over allegations of fraudulent corporate rehabilitation at Homeplus, industry officials said Wednesday. The ruling allows efforts to normalize Homeplus, which is undergoing a court-led rehabilitation process, to continue. However, concerns remain over the normalization of its operations, as legal risks surrounding the private equity firm, the largest shareholder of the country’s second-largest supermarket chain, have not been fully resolved. The charges against Kim and other executives could still be upheld in future court proceedings. The uncertainty is being compounded by the Financial Supervisory Service’s (FSS) move to pursue “severe” disciplinary measures, including the suspension of duties for MBK executives. Earlier in the day, Seoul Central District Court dismissed prosecutors’ request to detain Chairman Kim, MBK Vice Chairman and Homeplus CEO Kim Kwang-il, MBK Vice Presiden