Seoul Administrative Court 2008Guhap31666 ( July 16, 2009)

Cho High Court Decision 2007Du2391 (Law No. 8, 2008)

Loans bypassing to a related corporation through a disguised affiliated company are subject to rejection of wrongful calculation.

A disguised affiliated company or disguised affiliated company is an illegal act of lending funds to a person with special interest by taking into account the fact that a corporation has not actually paid any interest after lending funds to a person with special interest, that a disguised affiliated company has no ability to repay debts, and that the absence of claims and obligations is confirmed by the corporation and a person with special interest through court adjustment.

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

1. The plaintiff's appeal is dismissed.

2. Costs of appeal shall be borne by the Plaintiff.

The judgment of the first instance shall be revoked. The Defendant’s revocation of the disposition on the Plaintiff’s bonus income of 2,851,560,01 won in the business year 2001 with the income earner KimA as of March 26, 2007 and the bonus income of 2,608,009,001 won in the business year 2,574,790,621 won in the business year 2003, and the bonus income of 2,626,681,940 won in the business year 2004, and the bonus income of 2,626,681,940 won in the business year 204, and the bonus income of 1,972,416,643 won in the business year 206, and the bonus income of 1,238,239,60 won in the business year 206 shall be all revoked.

The court's explanation of this case is the same as the part of the reasoning of the judgment of the court of first instance. Thus, it can be accepted by Article 8 (2) of the Administrative Litigation Act and the main sentence of Article 420 of the Civil Procedure Act.

Therefore, the judgment of the first instance court is legitimate, and the plaintiff's appeal is dismissed as it is without merit. It is so decided as per Disposition.