Supreme Court dismissed claim against bank executives for loan losses, ruling liability requires direct fault or breach of duty.
Legislator summary
AI generatedThe Supreme Court dismissed the plaintiff's claim seeking compensation from the savings bank's board members and managing director for losses incurred from a loan. The plaintiff argued that the executives failed in their supervisory duties, while the defendants contended they acted within their professional obligations and without personal fault. The court held that liability for corporate losses rests with the company itself unless specific personal fault or breach of statutory duty is proven by the claimant.
Legislator headnote
AI generatedS. 10 of the Companies Act 1961; s. 1 of the Liability Act 1961: Directors and officers are not personally liable for corporate losses unless they have committed a specific tort or breached a statutory duty owed to the company.
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Kysymys säästöpankin hallituksen jäsenten ja valtuutettuna toimineen toimitusjohtajan korvausvastuusta pankille luotonannosta aiheutuneista vahingoista sekä korvauksen sovittelusta.