Nissan: Claims against Carlos Ghosn of 10 billion yen: in Yokohama District Court
Nissan: Carlos Ghosn
2020/02/12
Nissan Motor Corporation has filed a lawsuit against Carlos Ghosn today in the Yokohama District Court for damages.
The lawsuit seeks ¥ 10 billion in damages from Carlos Ghosn to “recover the damage caused by the misconduct by the former chairman.”
This time damages: main things
Violation of the Financial Instruments and Exchange Act: Violation of the Financial Instruments and Exchange Act related to false descriptions of executive compensation,
Violation of duty of care: violation of duty of care as director
Diversion of company funds / assets: seeking damages for private diversion,
Current compensation amount:
Payment of fines to the Financial Services Agency based on the recommendations of the Securities and Exchange Surveillance Commission,
Fines imposed in criminal proceedings against the Company,
Current Compensation: Basis for Calculation
Calculated based on the costs incurred by Carlos Ghosn’s misconduct over the years.
This wrongdoing: as below
Fraudulent spending by CEO reserve,
Free use of overseas housing,
Payment to his sister,
Donations to Lebanese educational institutions,
Payment to Lebanese lawyers,
Private use / payment of corporate jet
Resources required for internal investigations into fraud
Authority investigation costs in Japan / US / Netherlands / other regions
Previous Misconduct: Claiming Compensation
On August 30, 2019, a civil suit is pending against Carlos Ghosn and its affiliates (registered in the British Virgin Islands) seeking attribution and compensation for a luxury yacht.
Carlos Ghosn conducted unauthorized transactions through a special purpose company in the British Virgin Islands.
NISSAN GLOBAL NEWS
https://global.nissannews.com/ja-JP/releases/release-a90338a1553e91015b66e2ea9a02bf1a-200212-02-j
Nissan and Ghosn’s compensation for damages of 10 billion yen @ “Longtime misconduct” | Business | Latest Articles | Newsweek Japan Official Site
https://www.newsweekjapan.jp/stories/business/2020/02/100-55.php
Lawyers claim Ghosn took millions from Nissan-Mitsubishi venture
Former Chairman Ghosn claims 10 billion yen for Nissan, likely to increase | Kyodo News