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KKO 2075/1998 AI generated

Supreme Court dismissed appeal against conviction for preferential treatment of creditors and order for damages.

Case Number KKO 2075/1998
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Dismissed
Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The Supreme Court dismissed the appeal against the lower court's conviction for preferential treatment of creditors and the order for damages. The appellant, A, sold company X's changeable assets to company Y to cover X's bank debts, an act the lower court deemed illegal. The court upheld the conviction because the transaction violated the principle of equal treatment among creditors by prioritizing one bank's claim over others.

Legislator headnote

AI generated

Section 10 of the Companies Act; Section 1 of the Criminal Code: A transaction where a company sells assets to a third party to satisfy a specific creditor's debt constitutes preferential treatment of creditors if it harms other creditors' rights, warranting criminal conviction and civil liability.

Keywords

AI generated
preferential treatment of creditors companies act section 10 criminal code section 1 bankruptcy proceedings asset sale transaction equal treatment principle civil liability damages

Cited Legislation

AI generated
Section 10 of the Companies Act
Section 1 of the Criminal Code
AI generated
kko-other_2010_2386
Supreme Court dismisses appeal regarding failure to submit criminal case for insolvency proceedings due to procedural error.
appeal_1981_eastern-finland__1830
Court dismissed claim for proportional division of joint liability damages among multiple defendants.
kko-precedent_2011_52
Supreme Court dismisses charge of gross dishonesty for failing to use misappropriated funds to pay creditors.
kko-precedent_2003_108
Supreme Court held defendant liable for costs despite acquittal due to post-trial lighter law application.
kko-precedent_1996_57
Supreme Court allows partial claim for guarantee liability reduction and denies court costs to both parties.

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Full text

A oli myynyt yhtiönsä X vaihto-omaisuuden toiselle yhtiölleen Y siten, että Y otti vastatakseen X:n veloista pankille. A tuomittiin rangaistukseen velkojansuosinnasta ja velvoitettiin suorittamaan vahingonkorvausta yhtiön X velkojille.