Seoul High Court 2009Nu27055 (2010.04.01)

Seoul Administrative Court 2008Guhap50193 ( August 13, 2009)

Whether shares are held in title trust or not

In a case where share price has been paid, only the nominal borrower who actually subscribed shares and paid such price shall become a shareholder as a de facto underwriter, and in full view of various circumstances, the plaintiff shall be deemed to have held a title trust.

The contents of the decision shall be the same as attached.

The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

The records of this case and the judgment of the court below and the grounds of appeal were examined. However, the grounds of appeal by the appellant are not included in the grounds prescribed in each subparagraph of Article 4(1) of the Act on Special Cases Concerning the Procedure of Appeal or are recognized as groundless. Thus, the appeal is dismissed under Article 5 of the same Act. It is so decided as per