If the receiver of the liquidation company appoints a "president" of the liquidation company and causes the director to participate in the liquidation affairs, he/she shall be responsible to the receiver.

If the receiver of the liquidation company appoints “A” as the vice president of the liquidation company and allows the liquidation company to participate in the liquidation affairs, “A” shall, regardless of the above direct title, be deemed to be the agent, performance assistant, or performance substitute of the receiver appointed with the permission of the court as necessary for the performance of his duties on the responsibility of the receiver, and as such, “A” shall not be deemed to be an employee of the liquidation company, the receiver who appointed “A” on his responsibility shall be liable for damages caused by the liquidation company’s act, regardless of whether there is negligence in the appointment and supervision, in view of the purpose of Article 98(

Articles 53 and 98 (1) of the Company Reorganization Act

Ginsung Industrial Co., Ltd., Counsel for the defendant-appellant

Industrial Bank of Korea (Attorney Hong Il-il, Counsel for defendant-appellant)

Seoul High Court Decision 72Na2758 delivered on March 15, 1973

The judgment below is reversed and the case is remanded to Seoul High Court.

We examine the grounds of appeal.

1. The court below rejected the above non-party's claim for damages against the non-party company's agent's non-party administrator's non-party administrator's non-party administrator's illegal act or non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party administrator's non-party's non-party administrator's non-party administrator's non-party's non-party administrator's non-party's non-party administrator's non-party's non-party's non-party administrator's.

2. According to the provisions of Article 53 of the Company Reorganization Act, when a decision to commence reorganization proceedings is made, the right to manage and dispose of the company's business and its assets belongs exclusively to the administrator's authority after the commencement of reorganization proceedings takes place. Since the administrator's status is a kind of public trustee as the administrator of the reorganization company, its creditor, and the non-party's interested organization consisting of the non-party's shareholders, the receiver is neither the organization nor its representative. The administrator's authority is limited to the management and disposal of the company's business and assets as stated above and it does not fall under any other matters. Thus, if the defendant appoints the non-party as the vice president and takes part in the reorganization proceedings, regardless of the above title, it shall be deemed that the above non-party is the defendant's agent or performance assistant who was appointed by the court with the permission of the court, and it shall not be deemed that the non-party is an employee of the reorganization company. Therefore, if the defendant who appointed the non-party at his own responsibility does not have any error in the legal principles concerning the appointment and management of the non-party.

Therefore, it is so decided as per Disposition with the assent of all participating judges.

Justices Kim Young-chul (Presiding Justice)