Main Issues

Death of creditor after commencement of the voluntary auction procedure and a copy of the progress of the auction procedure

Summary of Decision

Since the auction procedure for the real estate is a system that the secured party who has the right to realization of the secured real estate intends to obtain satisfaction by realizing it, the change of the requester for auction after the auction procedure has no illegality of law.

[Reference Provisions]

Article 26 of the Auction Act

Reference Cases

November 7, 1972 Decision 72Ma1266 decided Nov. 7, 197 (Article 26 (17) of the Auction Act)

Appellants

Gay iron

person who is entitled to receive the

Lee Sung-won

Judgment of the lower court

Busan District Court (85Tta880)

Text

The appeal is dismissed.

Reasons

The summary of the grounds for appeal is that the original decision is invalid when the original decision was conducted on February 28, 1986, even though the creditor died on November 16, 1985, which was after the commencement of the voluntary auction procedure of this case. Second, the original decision is assessed at a price of 15 million won or more at the market price, and the original decision which permitted the successful bid at a low price of 7 million won is assessed at a price of 12 million won or more, and there is an error of law that the appellant would inflict a huge loss. First, the original decision which allowed the successful bid at a low price of 12 million won, and the order of the auction procedure of real estate is a system to obtain satisfaction with the realization of the secured real estate, so there is no error of law by the change of the applicant for auction procedure (creditor) after the commencement of the auction procedure of this case. Therefore, even if the court conducted the auction procedure with the fact of death of the creditor, it cannot be found that there is no reason to dismiss the above decision of auction as a legitimate ground for appeal. Second, this is without merit.