2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1...

Pursuant to the main sentence of Article 420 of the Civil Procedure Act, the part on “1. Basic Facts” in the judgment of the first instance shall be cited as it is

According to Article 391 subparagraph 1 of the Debtor Rehabilitation and Bankruptcy Act (hereinafter “Bankruptcy Act”), the trustee in bankruptcy may deny for the bankruptcy estate the “act that the debtor knows that it would damage the bankruptcy creditor”: Provided, That the same shall not apply to the case where a person who receives any benefit from the act did not know the fact that he would damage the bankruptcy creditor at the time of such act.

“Act performed by an obligor with knowledge that it would prejudice any bankruptcy creditor” as stipulated under Article 391 subparag. 1 of the Debtor Rehabilitation Act includes a so-called fraudulent act, absolute reduction of the debtor’s general property, which is a joint security of all creditors (see, e.g., Supreme Court Decision 2015Da235582, Dec. 10, 2015). An act of a debtor’s selling real property, the sole property of which is conversion into money for consumption, barring special circumstances, constitutes a fraudulent act, and the debtor’s intent, which is a subjective element of a fraudulent act, recognizes that the amount of joint security of a claim is short of the amount of common security, and does not require any intent or intent to impair the creditor. In cases where the debtor sells real property, which is the sole property, and changes into money easily for sale of real property, the debtor’s intent of deception is presumed (see, e.g., Supreme Court Decision 9Da2515, Apr. 9, 199).

(See Supreme Court Decision 2000Da7783 delivered on October 25, 2002). Each entry (including serial number) in Gap, Eul, 10, and 11 of the act subject to denial, and Seocho-gu in the first instance court.