이사의 제3자에 대한 손해배상책임과 주주의 간접손해 - 대법원 2012. 12. 13. 선고 2010다77743 판결 -
Directors’ Liability to a Third Party and Shareholders’ Indirect Damages - Supreme Court Decision December 13, 2012, 2010Da77743 -
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According to the section 401(1) of Korean Commercial Code(“the KCC”), if directors have neglected to perform their duties intentionally or by gross negligence, they shall be jointly and severally liable for damages to third person. Section 401(1) of the KCC allows third parties to bring direct claim against directors for damages caused by directors’ negligence to perform their duties in case directors’ negligent actions do not satisfy the requirements of tort, considering that directors’ activities of business management generally affect third parties. By integrating directors' personal property into liable asset of a corporation, it tries to induce for directors to comply with their duty of fiduciary. This provision was adopted from the Section 266-3 of Japan Commercial Act of 1950. The Korean Supreme Court decided on December 13, 2012 (2010Da77743) that shareholders cannot claim indirect damages caused by directors’ negligence to perform their duties against directors. Indirect damages means consequential damages of shareholders’ economic interests owing to the decrease of corporation property by directors’ embezzlement of corporation property. The Korean Supreme Court holds that since indirect damages does not belong to damages under section 401(1) of the KCC they cannot be recovered. This article reviews legal problems raised from such holding and suggests relevant analysis to solve those problems. It deals with characteristics of liability under the section 401(1) of the KCC, tort liability of section 750 of Korean Civil Act, the scope of liability - direct damages and indirect damages -, directors who are liable for the third party damages, whether a shareholder is included in third party, and the period of extinctive prescription.
Abstract
According to the section 401(1) of Korean Commercial Code(“the KCC”), if directors have neglected to perform their duties intentionally or by gross negligence, they shall be jointly and severally liable for damages to third person. Section 401(1) of the KCC allows third parties to bring direct claim against directors for damages caused by directors’ negligence to perform their duties in case directors’ negligent actions do not satisfy the requirements of tort, considering that directors’ activities of business management generally affect third parties. By integrating directors' personal property into liable asset of a corporation, it tries to induce for directors to comply with their duty of fiduciary. This provision was adopted from the Section 266-3 of Japan Commercial Act of 1950. The Korean Supreme Court decided on December 13, 2012 (2010Da77743) that shareholders cannot claim indirect damages caused by directors’ negligence to perform their duties against directors. Indirect damages means consequential damages of shareholders’ economic interests owing to the decrease of corporation property by directors’ embezzlement of corporation property. The Korean Supreme Court holds that since indirect damages does not belong to damages under section 401(1) of the KCC they cannot be recovered. This article reviews legal problems raised from such holding and suggests relevant analysis to solve those problems. It deals with characteristics of liability under the section 401(1) of the KCC, tort liability of section 750 of Korean Civil Act, the scope of liability - direct damages and indirect damages -, directors who are liable for the third party damages, whether a shareholder is included in third party, and the period of extinctive prescription.
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