On November 7, 2013, with respect to the distribution of the distribution in the Daejeon District Court B, C, D, and E (Dual) real estate auction case, the above court prepared a distribution schedule with the amount of distribution to the Plaintiff, a creditor, KRW 44,574,820, and the amount of distribution to the Defendant, a mortgagee, KRW 1,649,224,569, but the Plaintiff stated an objection against KRW 144,715,780, out of the Defendant’s dividends on the said distribution date.

Since the Defendant’s right to collateral security is null and void because the existence of the secured debt is the declaration of the existence of the secured debt despite the absence of the secured debt, the amount of KRW 44,574,820 against the Plaintiff should be adjusted to KRW 188,750,00, the total amount of the Plaintiff’s credit, and KRW 1,649,224,569, the amount of dividends against the Defendant should be adjusted to KRW 1,505,049,389, the remainder after deducting the amount of the said secured debt.

Article 208(3)1 of the Civil Procedure Act (Judgment without Oral Proceedings) of the applicable provisions