Twitter Logo Youtube Circle Icon LinkedIn Icon

South Korea > Legal Developments > Law firm and leading lawyer rankings

Editorial

Appeals court affirms acquittal of company directors in prosecution for post-LBO capital reduction

February 2011 - Finance. Legal Developments by Bae, Kim & Lee LLC.

More articles by this firm.

M&A: Korean appeals court affirms acquittal of company directors in prosecution for post-LBO capital reduction and dividends

The Busan High Court has affirmed a trial court decision acquitting company directors of charges that they committed a criminal breach of fiduciary duties in proceeding with a capital reduction and dividends to repay LBO financing. In its ruling issued in late December 2010 the appellate court, pretty much seconding the trial court’s opinion, reasoned that capital reductions and dividend decisions were, generally, standard procedures, allowed for under the Korean Commercial Code without regard to shareholders’ plans for the money, and that there was in this case no irregularity of a kind suggesting any material injury to the company. 

 

Read more...


For more information please visit www.bkl.co.kr

 

Interview with...

Law firm partners and practice heads explain how their firms are adapting to clients' changing needs

International comparative guides

Giving the in-house community greater insight to the law and regulations in different jurisdictions.

Select Practice Area

Dinner with GC -
Korea 2018

  • China and Hong Kong GC Powerlist

    In May, The Legal 500 and GC Magazine added another country to the list of destinations for their exclusive Dinner with GC series, as South Korea’s elite in-house counsel came together at Mugunghwa in Seoul, for a closed-door discussion on the realities of the role.

    Dinner with GC - Korea 2018