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TITLE [Withdrawal of Merger, Revocation of the Resolution of General Meeting of Shareholders] Decided April 23, 2009 Supreme Court Decision 2005Da22701,22718 [full Text]
Summary
[1] The applicability of Article 5 of the former Act on the Structural Improvement of the Financial Industry regardless of whether any party to the merger, either or both, is insolvent financial institution (affirmative) [2] The limitation of proxy appointment for exercising shareholder's voting rights [3] The meaning of a document certifying a shareholder principal and the power of representation [4] The validity of the article of incorporation which provides for a limitation that a proxy shall be a shareholder (valid), and in such a case whether it is permitted that public officials, staff, or employees, etc. attached to a shareholder nation, local public authorities, or corporations, exercise their proxy voting authorities for shareholders (affirmative) [5] Whether the standing agent whose proxy voting authority was delegated from a foreign shareholder can redelegate the exercise of proxy voting authority to a third party (affirmative)
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