Hyeok Joon Rho, Analysis of Major Cases on Corporate Law in 2019, Human Right and Justice, Vol. 488 (2020), pp. 125-144.
<Abstract>
Among those decisions rendered by the Korean Supreme Court in 2019 and late 2018, this paper focuses on corporate law cases dealing with critical jurisprudence. Ten major Supreme Court decisions in this paper are classified as ① shares and shareholders, ② shareholders meeting, board and directors and ③ restructuring and other issues which cover appraisal remedy and piercing corporate veil. Compared to prior periods, the year 2019 had more cases whose main arguments were associated with procedural aspect of civil litigation rather than traditional corporate law issues. (e.g. what type of litigation should be taken to correct mis-registered shareholders’ list?) Further some notorious corporate scandals reached final decisions of the Supreme Court. In Kangwon Land case and Prime Savings Bank case, many directors or shadow-directors were found to breach their fiduciary duty and be responsible for the damages borne by their corporations.
<Keywords>
appraisal remedy, piercing the corporate veil, corporate donation, shareholders’ list registration, responsibility for accounting fraud
Hyeok Joon Rho, Analysis of Major Cases on Corporate Law in 2019, Human Right and Justice, Vol. 488 (2020), pp. 125-144.
<Abstract>
Among those decisions rendered by the Korean Supreme Court in 2019 and late 2018, this paper focuses on corporate law cases dealing with critical jurisprudence. Ten major Supreme Court decisions in this paper are classified as ① shares and shareholders, ② shareholders meeting, board and directors and ③ restructuring and other issues which cover appraisal remedy and piercing corporate veil. Compared to prior periods, the year 2019 had more cases whose main arguments were associated with procedural aspect of civil litigation rather than traditional corporate law issues. (e.g. what type of litigation should be taken to correct mis-registered shareholders’ list?) Further some notorious corporate scandals reached final decisions of the Supreme Court. In Kangwon Land case and Prime Savings Bank case, many directors or shadow-directors were found to breach their fiduciary duty and be responsible for the damages borne by their corporations.
<Keywords>
appraisal remedy, piercing the corporate veil, corporate donation, shareholders’ list registration, responsibility for accounting fraud