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

A. On September 10, 2010, the Defendant completed the registration of creation of a collective security right (hereinafter “instant collective security right”) with respect to the land of 199m2, Do-gun, Si-Gun-gun, Gyeongnam-gun, and Do-gun, 199m2 (hereinafter “instant land”) with respect to the land of 83m2 square meters (hereinafter “instant land”) on September 10, 2010, 16270, which was received on September 13, 2010 by the registration office, 16270, the maximum debt amount of 95,000,000 won

B. On April 28, 2011, the Korea Credit Guarantee Fund completed the registration of creation of a neighboring mortgage to the Korea Credit Guarantee Fund, under the Act No. 8621 of May 4, 201, which was received on May 4, 2011 from the Changwon District Court, instead of the original District Court, as the grounds for registration.

C. On May 29, 2014, the aforementioned court drafted a distribution schedule of allocating KRW 69,359,859 to the Defendant, who is a senior mortgagee, and KRW 2,879,875 to the junior mortgagee, to the Korea Credit Guarantee Fund. D.

The Plaintiff appeared on the date of distribution, and raised an objection against the whole amount of distribution to the Defendant, and filed a lawsuit of demurrer against distribution on June 5, 2014.

[Ground of recognition] Facts without dispute, entry of evidence A1 to 3, purport of the whole pleadings

2. The Plaintiff’s assertion that the secured obligation of the instant right to collateral security is the Plaintiff’s obligation against the Defendant, and the Plaintiff’s representative director bears the goods payment obligation against the Defendant, and the instant right to collateral security is null and void since the Plaintiff did not bear any obligation against the Defendant, and thus, the instant right to collateral security is null and void as it did not exist. As such, the Plaintiff’s claim that the amount of distribution against the Defendant should be deleted from the distribution schedule of the instant right

3. According to each of the judgments of the court below, Eul 1 to 3 (including the paper numbers) the defendant is a stock company E on November 28, 2009.