..:: AUTO REPORT AFRICA ::..
Related Articles
Nissan Motor Co., Ltd, Wednesday at the Yokohama District Court, Kanagawa, Japan, slammed a civil lawsuit against its former chairman Carlos Ghosn. The suit seeks an initial amount of JPY 10 billion ($90 million) in order to recover a significant part of the monetary damages allegedly inflicted on the company by its embattled former Chairman as a result of years of his alleged misconduct and fraudulent activity.
The financial damages claimed by Nissan are linked to Ghosn’s alleged breach of fiduciary duty as a company director and his alleged misappropriation of Nissan’s resources and assets. The size of the damages claim is expected to increase in future as Nissan seeks to recover fines to be paid to the Japanese Financial Services Agency and likely penalties imposed on the company in criminal proceedings related to Ghosn’s alleged misconduct.
This claim for damages announced Wednesday has been calculated on the basis of costs incurred by Nissan due to Ghosn and his alleged corrupt practices over many years, including:
funds linked to fraudulent payments made to or by Ghosn as outlined in Nissan’s statement of September 9, 2019, including the use of overseas residential property without paying rent, private use of corporate jets, payments to his sister, payments to his personal lawyer in Lebanon, etc.;
resources and costs related to Nissan’s internal investigation into Ghosn and his misconduct
legal and regulatory costs incurred in Japan, the U.S., the Netherlands and other territories
The new claims are in addition to an ongoing civil lawsuit Nissan initiated against Ghosn in the British Virgin Islands on August 30, 2019, where unauthorised payments and transactions were processed through special purpose entities, seeking the title of a luxury yacht and/or damages and other relief.
Nissan said it has intensified its campaign to recover damages from its former Chairman following his illegal flight from justice.
It maintained that the legal actions form part of Nissan’s policy of holding Ghosn accountable for the harm and financial losses incurred by the company as a result of his misconduct.
Nissan also affirmed that it reserves the right to pursue separate legal action over groundless and defamatory remarks made by Ghosn in comments to the media following his escape to Lebanon in violation of his bail conditions in Japan.
