beta
Text
1. The plaintiffs' claims against the defendant are all dismissed.
2. The costs of lawsuit are assessed against the plaintiffs.
Reasons
1. Basic facts
A. Plaintiff A is a shareholder who owned 37,848 share of 49,800 shares issued by Plaintiff D (hereinafter “instant company”) and was the representative director of the said company; Plaintiff B was a shareholder who owned the remaining 11,952 share of the shares issued by the said company; and Defendant was a representative director of the instant company on April 9, 2020.
A Agreement on the Use of Funds for the Business Normalization of the Company A: Defendant 2 (Subject and Scope of Borrowing)
1. An amount of KRW 17,00,000 and capital of KRW 200,00 in kind that Party A borrowed to Party B; and
2. Amount of KRW 30,000,000, which Party A shall borrow for additional loans from Party B.
3. Article 4 (Date of Payment of Price) A of the interest on the agreed term for the total amount borrowed by A to B shall pay to B the amount borrowed by February 27, 2018.
Article 6 (Responsibility)
4. If Party A does not fully repay to Party B, the entire corporation of this case, including electrical construction business, shall be transferred to Party B, and the above corporation’s liabilities shall be repaid by Party A.
5. If Gap makes an incomplete payment to Eul, the corporation of this case, including electrical construction business, shall be transferred by Eul and sold by Eul, or estimated by three or more consulting firms, and all liabilities of the said corporation shall be repaid by Gap.
6. In the case of paragraphs 4 and 5 and in the event that the economic situation of Eul does not require repayment of the borrowed amount, Gap shall, after implementing paragraphs 4 and 5, maintain the office of representative director and exercise the right of management within the limit of three years through consultation with Eul at a six-month intervals.
In such cases, A and B shall make an additional contract for management.
When Gap completes repayment to Eul with respect to the expenses incurred in addition to borrowings and B during this period, Gap can take over the whole corporation of this case transferred to Eul through mutual consultation.
B. The instant company around November 22, 2017