The Urgency of the Business Judgment Rule Approach in Viewing Losses Sustained by State-Owned Enterprises

The BJR doctrine must not be misinterpreted as a form of absolute impunity, nor as a grant of legal immunity to a handful of directors of corrupt disposition; rather, it must be properly positioned as a rational line of demarcation between a criminal act and the inevitability of business risk. Accordingly, the essence of proving malicious intent, conflicts of interest, and procedural violations must always be the central focus of any investigation — instead of fixating blindly on the mere occurrence of material losses.