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Ex-TEPCO execs ordered to pay ¥13 tril in damages over Fukushima crisis

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Should be overturned on Appeal.

-20 ( +6 / -26 )

They will end up paying just a couple of million...

14 ( +20 / -6 )

They will never be able to pay that amount even in a lifetime.

14 ( +18 / -4 )

Among five defendants -- former Chairman Tsunehisa Katsumata, former vice presidents Sakae Muto and Ichiro Takekuro, former President Masataka Shimizu and former Managing Director Akio Komori -- the court found all but Komori liable to pay the damages.

Do those four defendants found liable have 13 trillion yen ($95 billion) to pay?

11 ( +13 / -2 )

That judgment must be a mistranslation. I don’t know if this is a quirk of the Japanese language… but I often catch people mixing up large numbers by orders of magnitude.

11 ( +15 / -4 )

Where will TEPCO get the money to pay the shareholders?

4 ( +9 / -5 )

And why was the managing director Akio Komori not found to be liable to pay damages ?

5 ( +8 / -3 )

Where will TEPCO get the money to pay the shareholders?

From the government

5 ( +11 / -6 )

Of course the former managers cannot or will not personally pay that large amount out of their private pockets, accounts or assets. It is either only a virtual and symbolic payment obligation or someone else will pay, for example all we tax payers in general or mostly probable all the company’s customers via higher monthly costs and invoices for electricity.

2 ( +6 / -4 )

At the time of the accident, the plant was owned 100% by TEPCO. The suit is against the ex-directors not TEPCO or the government.

7 ( +10 / -3 )

Paul: "They will end up paying just a couple of million..."

If it was to the people of Fukushima, then yes, they'd get out of it. But, it's to the shareholders and the utility, which itself won't pay out much if anything to the people. So, you can bet it will be upheld. Only suicide is going to see these guys from having to pay.

4 ( +9 / -5 )

I would be exceedingly surprised if any of the former managers pay a single yen to anyone over this.

3 ( +10 / -7 )

@Seigi

Where will TEPCO get the money to pay the shareholders?

The executives were ordered to pay TEPCO.

2 ( +4 / -2 )

Shareholders are the lowest priority of payment. Given that the liabilities likely far exceed the assets of the firm, they are as likely to collect any significant amounts as the folks down in Mississippi are to receive the coupon payments on their Confederate war bonds.

0 ( +3 / -3 )

Redstorm

Today 04:45 pm JST

At the time of the accident, the plant was owned 100% by TEPCO. The suit is against the ex-directors not TEPCO or the government

The reason is in the article:

The ruling in favor of shareholders

They are not going to sue TEPCO because that would mean they as shareholders would end up paying by losing profits and assets.

Same if they sue the government as taxpayers they end up paying in the end.

-1 ( +3 / -4 )

In the lawsuit against the former executives, 48 shareholders sought a total of around 22 trillion yen ($160 billion) in damages to be paid to the company, the largest amount ever claimed for compensation in a civil lawsuit in Japan, according to a lawyer representing the plaintiffs.

In a rare just decision, the Japanese courts will pay off shareholders.

The actual victims of the disaster will get nothing.

Japanese justice.

-4 ( +3 / -7 )

antiquesaving

my comment @ 4:45 was a response to

SeigiToday 04:37 pm JST.

and

taitoToday 04:40 pm JST

and

Sven AsaiToday 04:44 pm JST

I doubt the directors will end up paying much, certainly not ¥13 trillion.

The cost of the disaster to date is nearly ¥30 trillion, mostly taxpayer money, and will most likely in the end cost ¥100 trillion.

Victims of the disaster have received more than ¥8 trillion but not enough for all of their losses.

2 ( +3 / -1 )

In any case, this is an epoch-making judgement although still at regional court level.

Those regular JT experts should love this order where 4 oyaji-s were ordered to personally pay 13 trillion yen.

Even if appealed up to the supreme court level, with the same verdict, these 4 oyaji-s would simply make personal bankruptcy declarations and end the whole show, legally speaking.

Yet this is a symbolic judgement, good warning to oyaji and peace-boke diathesis in Japan

4 ( +5 / -1 )

Many of the ex-directors should be doing time but the Tokyo courts found no case for them to answer.

4 ( +5 / -1 )

Pay, you mean their out of their own Loot?? Never!

Beep, beep, beep~brrrrr … (speeddial sounds of Looters Dial-A-Prosecuters)

-2 ( +1 / -3 )

Looks good for the news report but we all know the final payment will be a weeks salary for these fraudsters!

1 ( +2 / -1 )

This U.S type of damage award is a like a tsunami, at first I thought it was a typo but looking at the large

placard I realized it was true, it is just unbelievable that the judge rewarded 13 trillion and not 13 billion, hope

this is the beginning of decent damages being awarded to plaintiffs especially when the ruling is against J-companies.

0 ( +1 / -1 )

Itd be nice to think that these execs had this sort of money to fork out, but alas. . .

Glad to see the court come to the same conclusion the postmortem came to 10 years ago.

-1 ( +0 / -1 )

I sincerely hope the court orders the seizure of all their assets and any transferred away to others. Not holding my breath though.

0 ( +1 / -1 )

 Japan caused one of the worst nuclear disasters in history 

I would sincerely appreciate the writer of this article to please share any nuclear accidents that have been worse than Fukushima.

But then white-washing the truth is common in Japan, so why should I be surprised?

It was the WORST nuclear disaster in history!

-1 ( +2 / -3 )

Where’s all billions for the families that lost loved ones, lost their homes., livelihoods, are STILL living in sheltered type housing. Priorities all wrong all usual.

2 ( +3 / -1 )

What about the the thousands of residence who lost loved one, homes. savings, land, and every thing they earned and are still struggling. TEPCO shareholders can wait, first take care of the ones that lost everything.

0 ( +1 / -1 )

Yubaru

Today 07:09 pm JST

Japan caused one of the worst nuclear disasters in history

> I would sincerely appreciate the writer of this article to please share any nuclear accidents that have been worse than Fukushima.

> But then white-washing the truth is common in Japan, so why should I be surprised?

> It was the WORST nuclear disaster in history!

Actually no!

Sorry but as far as nuclear disasters go Chernobyl is still number one!

More death, more radiation released into the atmosphere, more than double the number of people evacuated, Chernobyl exclusion zone is 2600 km2 as Fukushima is 300 km2.

So unless History only started after 1987 and we don't count Chernobyl the article is correct "one of the worst " not the worst!

-1 ( +3 / -4 )

Expect an appeal to the Supreme Court, who invariably decide in favour of the the Japan Establishment.

0 ( +1 / -1 )

Japanese govt split tepco in two, one is for shareholders profit, the other is for the disaster. As j govt owns 51%, taxpayers will have to pay for the disaster.

0 ( +1 / -1 )

Shareholder win such damages, but the local residents don't ?

Hmm... something seems amiss there.

0 ( +1 / -1 )

This is nothing but a handshake deal. Here's the fines to satisfy the public outcry let it sit out their in the open the public will forget about it then we come back to court later and reduce the fines to acceptable levels for both parties and in the mean time lets restart the plants.

-1 ( +0 / -1 )

The technicians and engineers deserve an award for their brave attempt at preventing a bigger disaster. How many gave their lives to stay at the helm of the proverbial sinking ship.

0 ( +1 / -1 )

Meanwhile in Japan, when the average Joe is awarded compensation for something, they get a pittance.

Like the reporter who was raped on the job by a co-worker and was awarded barely enough to buy a new Toyota Camry.

-2 ( +0 / -2 )

Keep in mind that the 13 Tril is the total amount they are seeking based on the damages they are suing for. In other words they will be seeking compensation in X amount for damages to "A". Basically a bunch of invoices that the courts will need to review and award what they feel is the appropriate amount, and it's the later that will be interesting to keep an eye on.

Basically this pay-out will be tied up in courts for a very long time.

-1 ( +0 / -1 )

Finally a win. Funny it's after an election though

0 ( +0 / -0 )

I think the damages deserves much much more than 22 Trillion yen. The crisis was a kind of criminal negiliance. The Tokyo electric and the Japanese government cannot blame: Hey this is a natural disaster!

They should ask more, don't be shy!

-1 ( +0 / -1 )

Does not matter how much if they don't actually have it to pay.

0 ( +0 / -0 )

Those places contaminated by radiation are permanent, nobody can lives there anymore. The decendants of these miserable people deserve to get their compensations. That means their children and grand grand children were eligible to get money in a forever term. Sure TEPCO can't pay that sum, then nationalize that company and let the Japanese government takeover that burden.

-1 ( +0 / -1 )

The government is 51% owner of TEPCO and has spent trillions on the disaster and will spend many more tens of trillions before it’s over.

The problem with the contamination is it’s patchy. Good areas and bad ones. Towns and villages will never be whole again.

0 ( +0 / -0 )

Does anyone know whether these guys have such money to repay ? And if not, what next ? Or have they already shifted what they had offshore to places like Panama ?

0 ( +0 / -0 )

Does anyone know whether these guys have such money to repay ?

13 trillion yen? Who does?

have they already shifted what they had offshore to places like Panama ?

I doubt they made enough money to make that worthwhile.

0 ( +0 / -0 )

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