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

3. The decision of the court of first instance is subject to Paragraph 1.

A. On September 24, 2015, the Plaintiff concluded a sales claim insurance contract (the insurance period: from September 24, 2015 to September 23, 2016; the amount calculated by multiplying the actual amount of damage by 80%; the lesser of the amount calculated by multiplying the actual amount of damage by the purchaser; and the main contents of the insurance contract are as follows; hereinafter “instant insurance contract”); and the instant insurance contract determined 123,000,000 won as the insurance amount in the event an insurance accident occurred with respect to the sales claim of the Plaintiff Korea High Level Co., Ltd. (hereinafter “Korea High Level”).

Article 9 (Creation and Appropriation of Sales Claim) (1) of the Love Insurance Terms and Conditions shall be deemed to have occurred in any of the following cases:

1. An insured incident which becomes the ground for requesting the payment of insurance proceeds under Article 11 (Insurance Accidents) when the goods are delivered to a buyer shall be as follows:

3. When a vendee files an application for commencement of rehabilitation proceedings, bankruptcy proceedings, or individual rehabilitation proceedings under the Debtor Rehabilitation and Bankruptcy Act (if a vendee is liable for insurance and is not supported), Article 12 (if a vendee is liable for insurance) (1) shall assume the responsibility for insurance with respect to sales claims incurred during the period of insurance;

However, it shall not be liable for insurance for any of the following sales claims:

2. Where a policyholder receives a claim for the payment of insurance proceeds in violation of any statute, he/she shall confirm the insurance proceeds to be paid after investigation and examination of the payment of insurance proceeds, and pay insurance proceeds within ten days from the date of confirmation, unless any special circumstance exists;