A. On June 25, 2009, A Co., Ltd. (hereinafter “A”) entered into a credit transaction agreement (hereinafter “the instant credit transaction agreement”) with C Co., Ltd. (hereinafter “C”) on a fixed basis as the comprehensive deposit account loan for the subject of credit (i.e., a bearer loan), the amount of credit (ii) KRW 3.5 billion, June 25, 2010 (i.e., the change to June 25, 201), the interest rate of KRW 12% per annum, and the delay interest rate of KRW 25% per annum (the delay interest rate of February 8, 2018 was changed to 24% per annum).

Pursuant to the instant credit transaction agreement, A loaned KRW 3.5 billion to C.

B. On April 5, 2010, A and C concluded an additional arrangement for raising the credit limit (limit) amount of the instant credit transaction agreement from KRW 3.5 billion to KRW 4.5 billion, and on September 7, 2010, an additional arrangement for raising the credit amount from KRW 4.5 billion to KRW 5 billion was respectively concluded.

C. On July 14, 2010, the Defendant entered into a contract with A to provide joint and several surety (reliability) within the limit of 6.5 billion won with respect to all obligations arising from credit transactions that C currently and future against A (hereinafter “instant contract for continuing guarantee”).

The Defendant approved that the terms and conditions of credit transaction of the D Bank and the provisions of the transaction agreement on the guaranteed obligation separately submitted to A with respect to the performance of the guaranteed obligation under the instant contract.

A was declared bankrupt on March 5, 2012 by the Gwangju District Court 2012Hahap1, and the plaintiff was appointed as bankruptcy trustee.

E. Meanwhile, the Defendant’s creditor, E, F, and G filed a lawsuit against the Plaintiff, a bankruptcy trustee of the Seoul Central District Court, claiming revocation of the fraudulent act under the Seoul Central District Court 2015Gahap52404 on the ground that the instant contract constitutes fraudulent act. On May 27, 2016, the court filed a lawsuit against the Plaintiff, a bankruptcy trustee of the Seoul Central District Court, claiming revocation of the fraudulent act. On March 27, 2016, the instant contract is KRW 80 million, which is a part of the principal of the loans under the instant credit transaction agreement, and its related thereto.