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KKO 3194/1998 AI generated

Supreme Court ruled company director's advances were not illegal loans but recoverable advances under company law.

Case Number KKO 3194/1998
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted
Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The Supreme Court determined that advances made by a company director to the firm were not illegal loans under the Companies Act. The court found these payments constituted recoverable advances rather than prohibited lending. Consequently, the claim for repayment was upheld against the company's defense.

Legislator headnote

AI generated

Companies Act 1981, Chapter 12, Section 7; Advances made by a director to a company are not illegal loans if they are recoverable advances, and the director is not liable for damages to the company for such advances.

Keywords

AI generated
company law director advances illegal loans recovery of funds corporate liability financial misconduct supreme court ruling

Cited Legislation

AI generated
Companies Act 1981, Chapter 12, Section 7
AI generated
ECLI:FI:KKO:2018:12
Supreme Court allows gross debtor dishonesty charge against company director for unauthorized fund withdrawals causing insolvency.
kko-precedent_2002_73
Supreme Court dismisses CEO dismissal claim where board acted on valid trust grounds without breach of contract.
labour_2006_107
Union unions fined for illegal strikes and breach of supervisory duties under Finnish public service law.
labour_1982_190
Labor court dismisses union's strike claim, holding employer partially responsible for prolonged work stoppage.
labour_1975_29
Labor court dismissed union claim that employer failed to pay strike-related wages under collective agreement.

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Full text

Kysymys siitä, olivatko yhtiön työpäällikkönä ja toimitusjohtajana toimineen henkilön eri aikoina yhtiöstä nostamat varat palkkaa vai osakeyhtiölain 12 luvun 7 §:ssä (248/1981) kiellettyä rahalainaa. Kysymys myös hallituksen jäsenten vahingonkorvausvastuusta.