A. On November 5, 2012, the Pohang Livestock Cooperatives (E) completed the registration of the establishment of a mortgage on each real estate and movable property as indicated in the separate sheet of the Daegu District Court (Seoul District Court), No. 11469, Nov. 5, 2012, as the maximum debt amount of KRW 280,000,000,000, and the debtor’s neighboring mortgage registration, in order to secure the claims for loans to E Co., Ltd. (hereinafter “E”).

(hereinafter “instant mortgage”). B.

F in order to secure the claim against E, on November 27, 2012, the Daegu District Court completed the registration of creation of a collateral for the debtor E, No. 200 million won of the maximum debt amount and the registration of creation of a collateral for the debtor, as set forth in the [Attachment] List No. 1 to 4, 2012.

The defendant acquired the right to collateral security from F on January 10, 2013.

C. On October 24, 2013, the Posting Livestock Cooperatives filed an application for the commencement of voluntary auction with the Daegu District Court, based on the instant mortgage, and the said court (D) voluntarily rendered a decision to commence auction on October 24, 2013.

(hereinafter “instant auction procedure”). D.

On September 24, 2014, the above court prepared a distribution schedule (hereinafter referred to as the "distribution schedule of this case") that distributes the amount of KRW 23,520,289 to the applicant creditor (mortgage 1,208,086, and the amount of the distribution foundation in order 274,208,086 to the port livestock cooperatives (mortgage 2) in order 274,208, and 3 (attached Table 2), in order 50,733, the amount of the distribution foundation in order 296,219, and the amount of the distribution foundation in order 3 (attached Table 2) in order 296, 219, and the amount of the distribution foundation in order 296, 219, and 3 (attached Table 1, the distribution foundation) to the defendant who is the mortgagee of the distribution (hereinafter referred to as "the distribution schedule of this case").

E. When the distribution schedule was prepared that the demand for distribution was made in the first order based on the wage claim against E, but did not have been distributed, the Plaintiffs stated an objection against the Defendant’s dividends on the date of distribution, and filed a lawsuit of demurrer against distribution of this case.

[Reasons for Recognition] Facts without dispute, Gap 1 to 3, and 8 (including the serial number) respectively.