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TEPCO ex-chairman and others ordered to pay over $95 billion in compensation, shareholders request seizure of property

July 22, 2022

Following the ruling on the 13th of this month ordering TEPCO to compensate its former chairman and four others with over 13.3 trillion yen, shareholders have asked TEPCO to promptly seize the assets of the former chairman and others. TEPCO was ordered by the court to compensate the former chairman and four others with over 13.3 trillion yen.
TEPCO shareholders demanded that the former management of TEPCO compensate the company for 22 trillion yen, claiming that the company suffered massive damages due to the nuclear power plant accident, including decommissioning work and compensation for evacuees. In response, the shareholders’ lawyers filed a lawsuit against the company, claiming compensation of 22 trillion yen.

In response to this decision, lawyers for the shareholders held a press conference on March 22 and announced that they had requested TEPCO to take steps for “provisional execution” to seize the assets of the former chairman and others.

The court decision allows for provisional execution, which means that if the procedure is followed, it is possible to seize the deposits and real estate of the former chairman and others without waiting for the court decision to become final and binding in order to promptly compensate them for their losses.

Lawyer Hiroyuki Kawai said, “The fact that the court declared provisional execution on the judgment shows the court’s anger and sense of justice. If TEPCO is truly remorseful, it should not be defending the former management team, but should be executing the provisional execution,” he said.
TEPCO “will consider the matter and take appropriate action as a company”
TEPCO commented, “We will consider the contents of the written request and take appropriate action as a company.
https://www3.nhk.or.jp/news/html/20220722/k10013730811000.html?fbclid=IwAR19wE7q5OOEfZWwMGi-aulOevpWAcTBw4dbB9P2-TpsVuwdFA3nakWswqU

July 22, 2022 - Posted by dunrenard | Fuk 2022 | Compensation, Responsibility, Shareholders, Shareholders lawsuit, Tepco former managers