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| TITLE | Supreme Court Decision 2010Da103451 Decided July 14, 2011 [Damages] [full Text] |
|---|---|
| Summary | |
| [1] Measures to be taken by a court when it has been established that damage was caused by an illegal act but the party provides insufficient evidence regarding the amount of this damage [2] Where the council of financial institutions which were the creditors of the company Gap agreed to form a separate council, Debt-for-equity Swap Joint Management Council (""the stock management council""), after dissolution of the prior council and agreed to place limitations on a portion of the stock possessed by the creditors to prohibit sales except for when the stock management council decided for a joint sale by its resolution; however the chair of the stock management council, the bank Eul, sold a portion of the stock possessed by its institutions despite the facts that a cooperative, Byung, had opposed such sale and the resolution for a joint sale of such portion of stock was not passed in the stock management council, the case holding that the court below committed an error of law by misapprehending legal principles in assessment of damage caused by an illegal act when the court below rejected the claim on the ground that evidence for establishing the amount of damage is insufficient and did not undertake further measures based on its authority of explication like requesting proof of the adequate value of the stock | |
