2. The costs of lawsuit shall be borne by the Plaintiff.

A. The Plaintiff filed a lawsuit against Nonparty B, etc. (Korean District Court Decision 2015Da45772). Nonparty B, the Plaintiff, from January 8, 2016 to August 17, 2016, ordered the Plaintiff to pay 5% per annum and 15% per annum from the next day to the date of complete payment.

(hereinafter “instant judgment”). B.

On September 29, 2016, Nonparty B entered into a contract with the Defendant to sell the real estate listed in the separate sheet (hereinafter “instant real estate”) at KRW 980,00,000 (hereinafter “instant sales contract”) with the purchase price of KRW 980,00,000, and on October 14, 2016, the ownership transfer registration under the name of the Defendant was completed.

C. Nonparty B was insolvent at the time of the instant sales contract.

[Reasons for Recognition] Unsatisfy, the purport of the whole pleadings as stated in Gap evidence 1 to 4

2. Determination

A. The plaintiff asserted that the contract of this case was concluded with the non-party B while the non-party B bears the obligation against the plaintiff based on the judgment of this case, and that the contract of this case should be revoked as it constitutes a fraudulent act. The defendant asserts that the real owner of this case's real estate is the defendant and the non-party B is merely a title trust property under the title trust.

B. Where the main sentence of Article 4(2) of the Act on the Registration of Real Estate under Actual Titleholder’s Name applies to the registration of real estate held in title trust, and the registration of ownership transfer in the name of the debtor who is the title trustee is null and void, such real estate is not owned by the debtor, and it cannot be deemed as a responsible property attributable to the debtor’s general creditors’ joint security, and even if the debtor entered into a sales contract with a third party on the said real estate, and completed the registration of ownership transfer.