SPC Typical Case: Company Certificate Preservation

Typical Case: Tokyo A Co., Ltd. of Japan v. Song Mou in an Application for Conduct Preservation

Where a former legal representative refuses to implement shareholder and board decisions, withholds company certificates and seals, and continues acting in the company's name so as to threaten normal operations and shareholder rights, a court may grant conduct preservation, prohibit further control or use of the company's seals and certificates, and order their transfer to a designated third party for safekeeping.

Holding

Where a former legal representative refuses to implement shareholder and board decisions, withholds company certificates and seals, and continues acting in the company's name so as to threaten normal operations and shareholder rights, a court may grant conduct preservation, prohibit further control or use of the company's seals and certificates, and order their transfer to a designated third party for safekeeping.

Issues

return of company certificates and sealsconduct preservationcorporate control after replacement of the legal representative