YOON&YANG
Yoon & Yang’s Litigation/Arbitration Practice handles various types of litigation and disputes, including damages litigation filed by a listed corporation/large unlisted corporation or a third party against the representative director, director, or statutory auditor of such corporation for a breach of his/her duty of good faith and fiduciary duty (appropriateness of the exercise of management rights and the business judgment rule), representative lawsuit filed by minority shareholders, and litigation related to the responsibilities of an external auditor of a stock company.

The Practice provides comprehensive advisory services, including conducting thorough analyses on the stability and issues of the current governance structure, optimizing strategies to defend or secure management rights, building strategies to secure friendly stakes, establishing detailed plans to prepare for proxy contests in advance, providing operational scenarios of shareholder meetings and board of directors’ meetings, and observing shareholder meetings and board of directors’ meetings. In addition, the Practice has been involved in various disputes related to management rights, such as applications for preliminary injunctions suspending the effects of shareholder meetings and board of directors’ meetings, applications for preliminary injunctions suspending the execution of duties of directors and statutory auditors, lawsuits seeking for a confirmation of a nullification of new shares, and applications for preliminary injunctions prohibiting exercise of voting rights.

Key Services

  • Litigation case on a dismissal of directors and statutory auditors and preliminary injunction case for suspending the execution of their duties
  • Shareholder representative litigation
  • Litigation case on responsibilities of directors and statutory auditors (filed by the company or a third party)
  • Litigation case on responsibilities of an external auditor of a stock company
  • Litigation for damages and criminal case filed by an officer of a company related to the company’s use of funds, and M&A
  • Criminal case and litigation for damages related to unfair trade practices, such as stock market price manipulation, and insider trading
  • Operational scenarios, observation and responses in connection with shareholder meetings and board of directors’ meetings
  • Applications for preliminary injunctions suspending the effects of shareholder meetings or board of directors’ meetings
  • Various litigation, including preliminary injunctions prohibiting the exercise of voting rights, lawsuits seeking for a confirmation of a nullification of new share issues
  • Disputes related to antitrust and competition laws, the Capital Markets Act, and tax laws that arise in the course of management rights disputes

Representative Cases

  • Represented in a damages litigation case where damages worth hundreds of billions of Korean won were claimed against the representative director and directors of General
  • Insurance Company H (shareholder representative litigation)
  • Represented in a damages claim case against an accounting firm related to the window dressing of Company S
  • Represented in a case on violations of the Capital Markets Act, such as market price manipulation by a listed company
  • Represented in a damages case where damages were claimed against the directors of Capital Firm H related to improper loans
  • Represented in mbezzlement and breach of trust cases of officers and employees of Bank K, Savings Bank J, Construction Company H, Securities Company M, Corporate Group D, ICT Company D, and Communications Company W
  • Advised Keumyoung on hostile M&A for an acquisition of management rights of Fine Digital Inc.
  • Advised FTENE, CMS, Hi Smartech, CMB, and Ildong Pharmaceutical on hostile M&A defense
  • Advised Hyundai Merchant Marine on establishing defense strategies against a hostile M&A
  • Advised SK Group on establishing management rights defense strategies
  • Advised Hanil Cement Group on establishing management rights defense strategies
  • Advised on management rights dispute between Kumho Petrochemical and Kumho Industrial over Asiana Airlines
  • Handled litigation and offered advice related to a management rights dispute between Korean Air and the three-party alliance including KCGI
  • Represented in Doosan Infracore’s litigation case on Doosan Infracore China Co., Ltd (DICC)
  • Advised on a management rights dispute between Hyundai Group and Schindler over Hyundai Elevator and observed shareholder meetings
  • Represented in a case on a minority shareholders’ application for preliminary injunctions suspending the effect of a resolution of a general meeting of shareholders/exercise of voting rights of POSCO Plantec and litigation seeking for a nullification of new shares