A. (1) In lending money to C on January 23, 2013, the Plaintiff completed the registration of the establishment of a joint collateral security right with respect to each real estate listed in the separate list Nos. 1, 5, 6, 7, and 8, owned by two farming associations as collateral, with the maximum debt amount of KRW 91,100,000,000, the debtor C, and the Plaintiff. On July 3, 2013, the Plaintiff completed the registration of the establishment of a joint collateral security right with regard to each real estate listed in the separate list No. 2, 3, and 4,000,000 won owned by the two farming associations as collateral, changing the maximum debt amount to KRW 429,00,000.

B. On May 2, 2014, the Plaintiff filed an application for voluntary auction with the competent court D (hereinafter “instant auction procedure”) regarding each of the real estate listed in the separate sheet (hereinafter “each of the instant real estate”) based on the aforementioned joint collateral (hereinafter “instant real estate”). On May 14, 2014, the instant court rendered a decision to commence voluntary auction on May 14, 2014, and on the same day, the registration of the entry of the decision to commence voluntary auction (hereinafter “registration of the decision to commence voluntary auction”).

C. While the instant auction procedure was in progress, around July 18, 2014, Defendant A reported a lien of KRW 270,000,000,000 for each real estate listed in the [Attachment List Nos. 2, 3, and 4 (hereinafter “instant real estate”) as preserved claims, and Defendant B reported a lien of KRW 72,00,000 for each real estate listed in the [Attachment List No. 7 and 8 (hereinafter “instant real estate No. 2”) around July 8, 2014, as preserved claims.

In the instant auction procedure, the date of sale set at KRW 358,016,00, which was set at the minimum sale price of December 8, 2014, has run several times after the date of sale, and the minimum sale price as of the date of closing the argument in this case has been set at KRW 76,420,00.

[Ground of recognition] Unsatisfy, A No. 1.