All
| TITLE | [Assigned Money]Supreme Court Decision 2004Da68519 Delivered on April 10, 2008 [full Text] |
|---|---|
| Summary | |
| [1] The legislative purpose of Article 37-3 (1) of the former Mutual Savings and Finance Company Act stipulating that executive officers and oligopolistic stockholders shall be jointly and severally liable with the Mutual Savings Bank for debts related to the deposits, etc. of the mutual savings bank and the scope of executive officers who hold the liability [2] Whether the business judgment rule is applied when a director acted in violation of any Act and subordinate statutes and, as a result, a company incurred damage (negative) [3] The scope of joint and several liability to repay deposits imposed upon executive officers who become liable for the bad management of the mutual savings bank under Article 37-3 (1) of the former Mutual Savings and Finance Company Act [4] The case where it can be deemed that a financial institution incurred new losses due to refinancing of an existing loan [5] The scope that joint and several liability of executive officers to repay deposits to depositors arising from the same negligent conduct in performing their duties in office under Article 37-3 (1) of the former Mutual Savings and Finance Company Act is extinguished where executive officers executed ahead their liability for damage to the mutual savings bank under Article 399 (1) of the Commercial Code [6] The meaning of ""the case where oligopolistic stockholders exercise influence over management of the mutual savings bank resulting in bad management,"" which is a requirement that oligopolistic stockholders hold joint and several liability to repay deposits under Article 37-3 (1) of the former Mutual Savings and Finance Company Act | |
