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Nissan files ¥10 bil damages suit against Ghosn

58 Comments
By YURI KAGEYAMA

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58 Comments
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"The pot calling the kettle black"

19 ( +25 / -6 )

Nissan death rattle...

18 ( +25 / -7 )

"as a result of years of misconduct and fraudulent activity" by Ghosn.

So, their damages suit is based on unproven accusations? 19 million bucks is a lot of sour grapes. They should be directing their damages claims at those responsible for the underhanded corporate coup that lead to Ghosn's arrest on accusations that are still to be proven. That is what has stained Nissan's reputation worldwide. Furthermore, during these so-called "years of misconduct and fraudulent activity" Nissan was a profitable and growing company under Ghosn's leadership. It wasn't until Ghosn went to Mitsubishi and put the company back into the hands of the Japanese did their sales begin to slump. This is just a sour grapes suit with a reality of, they only have themselves to blame.

14 ( +24 / -10 )

They should sue for a billion yen. They won't get a penny, of course, but it would make Ghosn's upcoming movie that much better lol

18 ( +21 / -3 )

It's 91 million dollars, not 19, But he probably got that in the change jar on his desk.

3 ( +6 / -3 )

So, their damages suit is based on unproven accusations?

The allegations will still need to be proved, but this time it will be in a civil rather than criminal court.

They won't get a penny, of course,

Compared to extraditing someone on criminal charges, it's actually much easier and straightforward to enforce a civil commercial judgement in a foreign country. When this news broke yesterday I had a look at the Lebanese law on enforcing foreign judgements and it should not pose any problems for Nissan. Ghosn might be able to secure his own freedom by fleeing on a private jet but his global assets are still within reach.

4 ( +6 / -2 )

Still can't understand why they are protecting Saikawa. He and only he is the true reason for all of Nissan's troubles. Yet, he will enjoy a luxurious retirement.

19 ( +25 / -6 )

This has always been a civil NOT criminal dispute and should have been handled as such from the beginning!

Shame on NISSAN for all the damage it is responsible for breaking the public's trust!

19 ( +24 / -5 )

This is getting hilarious. Monty Python, where are you?

8 ( +16 / -8 )

strange they want to sue him, after all the damages they did to him and his family

4 ( +14 / -10 )

Geez Nissan your lucky hes not suing you and your snake Saikawa....

10 ( +21 / -11 )

Saikawa said he did not know about the money. He has not been charged.

speaks volumes.

18 ( +27 / -9 )

Doubling down on stupidity. Nissan has already spent more on this than they Claim Carlos took. From badly handled to stupidly handled.

8 ( +15 / -7 )

Ghosn has only 8.5 million usable money now dont know how much france is seeking

2 ( +6 / -4 )

Is Nissan still investing time and resources in building cars?

17 ( +22 / -5 )

The big fish has gotten away. It's going to become a fish tale now about the one that got away with it.

2 ( +5 / -3 )

Nissan files ¥10 bil damages suit against Ghosn

HILARIOUS!!! He comes to Nissan and saves it from bankruptcy. BUT...Nissan files ¥10 bil damages suit against Ghosn

In 2009, he was offered MORE money by a US auto company to come to the US and help them but he refused by saying the captain does not abandon his ship. BUT....Nissan files ¥10 bil damages suit against Ghosn

Piece of work this company is.

12 ( +22 / -10 )

back and forth:

https://www.ft.com/content/9dc1371a-a96f-11e9-984c-fac8325aaa04

1 ( +1 / -0 )

Go Nissan! Stick it Ghosn!

-9 ( +10 / -19 )

in 2009, he was offered MORE money by a US auto company

Nonsense, He could not come to terms with ford. He was asking too much.

1 ( +9 / -8 )

Nissan, your damages are self inflicted

14 ( +20 / -6 )

Prosecutors as well as Nissan are so pathetic in their fight against ghost ghosn gone haha! They already spent millions in that case. At least thanks to their stupidity we have popcorn for years....

8 ( +14 / -6 )

as rent for overseas property, use of corporate jets and payments to Ghosn's sister, as well as costs for the internal investigation into Ghosn's alleged wrongdoings.

Property that Nissan owned, why would you charge rent to the chairman of the company?

Corporate jets that all high ranking CEO / chairperson should use for security and speed.

Ghosn's sister was an employee, payments were her salary.

7 ( +14 / -7 )

Still can't understand why they are protecting Saikawa.

it seems to me Saikawa made a plea bargaining with prosecutors. He put all dirt on Ghosn.

8 ( +12 / -4 )

He was awaiting trial but skipped bail and showed up in Lebanon late last year. Japan has no extradition treaty with Lebanon, and he's unlikely to be arrested.

Therefore making this pursuit of money and trying to get him back in Japan POINTLESS! Just give it up, Japan! You've lost the battle and at this point, its pointless to carry on the war.

2 ( +9 / -7 )

Meanwhile, their stock continues heading down down down.. right now at ¥568/share. Hasn't been this low since Q4 2009. This fiasco is hurting shareholders for sure... A pointless lawsuit just wasting more funds....

9 ( +11 / -2 )

The fact that Nissan announced this THE DAY BEFORE THEY WERE TO RELEASE THEIR EARNING REPORT says volumes, now doesn’t it?

9 ( +11 / -2 )

Why aren’t auditors, both inside and outside being sued? How is it this is coming out now, when grapes have soured? No one cared before!? Saikawa was sleeping? All this is really weird. Trying to see if something sticks so that Nissan, Inc isn’t proven a total loser.

1 ( +6 / -5 )

They should sue for a billion yen. They won't get a penny, of course, but it would make Ghosn's upcoming movie that much better lol

Well the article does say 10 billion yen... Just sayin is all. ;)

1 ( +1 / -0 )

If Japan Inc started coming down on corruption it'd be like a South Park episode. They'd be handcuffing themselves to each other...

6 ( +9 / -3 )

Wow! Wow! Wow!

0 ( +3 / -3 )

You can't make this stuff up. Sue the person who saved your company from bankruptcy.

1 ( +6 / -5 )

Nonsense, He could not come to terms with ford. He was asking too much.

Prove it.

They made the offer. He refused. BUT EVEN IF you were right, which you aren't, Nissan wouldn't even exist today if not for Carlos, and THAT even Nissan admitted

-1 ( +6 / -7 )

News reports said that Ford Motor CEO Bill Ford had called Carlos Ghosn, CEO of Renault and Nissan, to suggest that Ford, not General Motors, could be a good alliance partner for Nissan-Renault. Bill Ford clearly admires Ghosn's success in turning around Nissan: He has acknowledged trying to recruit Ghosn in the past.

https://www.autonews.com/article/20060828/SUB/60825070/ford-must-wait-for-carlos

2 ( +4 / -2 )

Don't blame numbers. Much less those who laboriously quote them. Money amounts vary nearly everyday from Tokyo to Amsterdam: 3.5 bil to 8.0 bil to 13.5 billion yen not allegedly but purportedly under-reported by CG - why? They are not yet in court albeit a lot of water runnng under the bridge since Nov 2018.

Now the suitor naturally adjusts depending on court type: the penal or civil court compounded by availability of evidence they got from tax-funded prosecutors. Those numbers from "N" company - I recently got misty and mortified for its employees in the US getting kicked out of their factories when I read a US auto report on N's demise- might better be kept aside. Stupidity aside, who cares about dozens of billion yen damage when a trillion-yen business is afire? The focal point is distinction: the article hit the nail on the head in her 3rd paragraph -  adding the costs from what Nissan called Ghosn's "corrupt practices," such as etc.

The local media never stop disgusting me by colored adjectives, adverbs or sometimes verbs in their reports on CG's conduct of business. CORRUPT PRACTICES, for one thing, is uttered not by the reporter. Her job is to quote leaving judgement to her readers. No reports about CG in local vernacular are free from judgmental phrases. Who are saying those subjective words there? Suitors or reporters-cum-editors - sadly, the latter. Impatient to sell more, the local press makes no distinction between what litigators "claim" -not assert in J court as modified by justice minister Masako Morio on Jan 9- and what they have to say. This kind of distinction - a Journalism 101 principle- renders readers rest assured before they come to tell which side is the pot or the kettle. No humans are free from soot.

-1 ( +3 / -4 )

How much must Nissan pay the Japanese court to file this claim? That figure is based on the amount plaintiff seeks.

3 ( +4 / -1 )

Ho hum.  More ridiculous claims and counterclaims.  Nissan still make some good cars.  They should focus on that.  And any movie of this mess will be plain boring.

0 ( +3 / -3 )

Nissan knows it is going bankrupt, it want to find a scapegoat.

this ridiculous farce will damage Nissan more.

4 ( +7 / -3 )

Saikawa was in charge of Nissan so where's his lawsuit? It's a joke everyday he's ignored and shows up the prosecution and vindictive and blind

4 ( +7 / -3 )

Nonsense, He could not come to terms with ford. He was asking too much.

Prove it.

In 2006, Ford Motor Co. made Ghosn a formal offer to lead the company.[101] Ghosn refused, reportedly saying the only way he would come to the struggling company was if he was named both the CEO and chairman of the board.

https://en.wikipedia.org/wiki/Carlos_Ghosn

and their citation is

http://www.autoblog.com/2012/03/12/book-ghosn-wouldve-taken-top-spot-at-ford-but-only-if-named-c/

back to you.

1 ( +5 / -4 )

Good luck with that, if you bring the case anywhere but Japan.

1 ( +3 / -2 )

Yawn!

If Nissan handled this internally through accounting and internal audit, then Nissan would continue to have healthy profits and a trusted brand. Instead, Japanese Nissan managers were more interested in making a point about Japanese nationality by bringing in Japanese prosecutors.

4 ( +6 / -2 )

Oh my, Nissan. You screwed Ghosn over and now you want him to pay the damages you inflicted upon yourself. I feel bad for whoever has to follow the orders from "the great oyaji" pulling the strings inside Nissan. That oyaji needs to be sacked.

9 ( +11 / -2 )

In 2006, Ford Motor Co. made Ghosn a formal offer to lead the company.[101] Ghosn refused, reportedly saying the only way he would come to the struggling company was if he was named both the CEO and chairman of the board.

> https://en.wikipedia.org/wiki/Carlos_Ghosn

> and their citation is

> http://www.autoblog.com/2012/03/12/book-ghosn-wouldve-taken-top-spot-at-ford-but-only-if-named-c/

> back to you.

Back to me. Ok see my second reply to you. Here it is again.

News reports said that Ford Motor CEO Bill Ford had called Carlos Ghosn, CEO of Renault and Nissan, to suggest that Ford, not General Motors, could be a good alliance partner for Nissan-Renault. Bill Ford clearly admires Ghosn's success in turning around Nissan: He has acknowledged trying to recruit Ghosn in the past.

https://www.autonews.com/article/20060828/SUB/60825070/ford-must-wait-for-carlos

IF what you said was true, WHY would Ford try to form an alliance with Nissan- Renault after that??

BAck to YOU!

0 ( +2 / -2 )

Oh I forgot. Your original post was

Nonsense, He could not come to terms with ford. He was asking too much.

Even if he asked for that, it wouldn't be too much as this was already the deal he had in Japan. So your original post is STILL completely inaccurate.

1 ( +3 / -2 )

All readers back on topic please.

To me, Nissan is responsible for its own damaged reputation through their underhanded corporate coup and petty finger pointing to keep that Sakaiwa rat out of prison.

2 ( +5 / -3 )

Did ghosn innovate anything in auto tech big No so Nissan will b fine without parasite sucking Nissans money. Time is superb to leave another parasite Renault which is also sucking Nissan. All ghosn did was cut jobs of Nissan employees n now God, fate or karma cuts his n he should worry about hizbullah now the cut anything

-7 ( +2 / -9 )

@AviBajaj

Ghosn made Nissan start producing the SUVs, that sold extremely well.

Cutted off lots of middle men and top management people.

Ghosn was the God of the industry, the savior of Nissan-Renault... there's plenty of info of all the good things he did all over the Japanese media in the recent years.

All of that hard work to end up stabbed in the back.

It makes a great story, lets hope for a happy ending.

2 ( +5 / -3 )

@AviBajaj

You must have forgotten Ghosn led the way to mass produced EV cars, the Nissan LEAF.

Back to topic, tough for CEO Uchida to lead a comeback. Just read there may be a rift starting in top management in Yokohama. Ghosn predicts Nissan will bankrupt. Lets see after FY 2020.

-1 ( +0 / -1 )

Nissan was n will do good without him Nissan patrol was there long before ghosn or suv word was created n no back stabbing here jus pay taxes which he didnt so karma us being served to him he didnt innovate anything just cut jobs n now his is also cut he stabbed nissan he got stabbed back

-2 ( +1 / -3 )

As time goes on, the nissan case is getting complicated in this sense, I am very curious to know, what was the japanese team from saikawa to the bottom of the line doing when Carlos was at nissan ???. Does nissan meant to tell the world that beside carlos, a person, who does not read & write in japanese is commiting all the crimes ???. saikawa cliams that he did not know abt his own over payment ???. Look, saikawa was the new president after carlos, what are the qualifications for a president ???. saikawa cliams that he has no knowledge ???.Look after living and working for 31 years in Japan, I confirmed that the poor minded japanese used as excuses are, kanchigai, ( misunderstood ), watashi wakaranai ( i was not informed ), & this is japan . It is their way of escaping their responsibility in all cases. Please do not take the world as idiots. We know..................................

0 ( +2 / -2 )

In the meantime, Nissan sales are dropping steeply; as the new executives struggle to find any sort of coherent strategy for their future. The 'Nissan Way' does not seem to have any impact, nor constant cries of 'ganbarimasu'.

0 ( +1 / -1 )

Counter sue these losers

-1 ( +1 / -2 )

Seems as if they deserve each other.

0 ( +0 / -0 )

Nissan needs to focus on building cars rather than going after Ghosn. They need to look carefully into their own governance practices. I am not impressed with their corporate behaviour and for that reason alone will not be buying any of their vehicles anytime soon. I am a great fan of Japan but have to say that this sort of behaviour does not reflect well on Japan Inc.

1 ( +1 / -0 )

Unbelievable. Nissan executive team and the Board of Nissan are so out of touch about how their loyal customers feel about a leader who brought us two generations of great cars, who love our Nissan's and love Carlos Ghosn. I am considering never purchasing another NEW Nissan in protest at the evil done to Ghosn. How many billions or trillons of Yen did Ghosn create for the shareholders not to mention billions in tax revenues to the Japanese government from taxing Nissan employees salaries and the company's profits. Prime Minister Abe should have Knighted Ghosn for his services and loyalty to Japanese industry. My advice to Nissan is to withdraw all charges and actions against Ghosn, and make a public apology to him, wife and family, if you want to make peace with your customers who buy your cars. You seriously need to focus ALL your management and Board efforts on a TURNAROUND of the company within 12 months like Ghosn did in 1999/2000. As for Renault, their Board has also been a traitor to Ghosn after the TURNAROUND of Renault by Ghosn (too many unionists and government appointed directors on the Board of Renault) and the billions (Yen) in dividends flowing to Renault's bottom line.

1 ( +1 / -0 )

I hope Nissan now goes Bust. Their current Management is totally untrustworthy, and that is probably going to be reflected in the quality of their products. The only sad part of Nissan going Bust, would be the fact that a lot of normal workers will be forced to find new Employment.

0 ( +0 / -0 )

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