The defendant.

A. On November 10, 201, the Defendant concluded a loan agreement with B for general working expenses (hereinafter “instant loan”); and on the same day, the Defendant set up a collateral security (hereinafter “instant collateral security”) against B with respect to the E-building No. 2-101, No. 2-102, No. 2-102, and No. 2-103, and No. 2-103, Dec. 1, 201 (hereinafter “instant real property”), which are owned by B and D, to secure the instant loan.

B. On December 14, 2012, the Plaintiff purchased KRW 720 million of the total purchase price, including succeeding to KRW 470 million of the instant loan, as to the instant real estate on December 14, 2012, the Plaintiff entered into a pre-sale agreement, and completed the registration of ownership transfer claim on the same day’s pre-sale. On November 8, 2013, the Plaintiff completed the registration of ownership transfer on the ground of sale on September 10, 2013.

C. On September 10, 2013, the Defendant filed an application for the commencement of voluntary auction with the claim amount as to the instant real estate as F with F of the instant court on September 10, 2013, with the maximum debt amount of the instant right to collateral security as KRW 61,100,000,000. On September 11, 2013, the Defendant received a decision to commence voluntary auction from the instant court.

On April 4, 2014, the Plaintiff subrogated to the Defendant for KRW 606,138,693 in order to withdraw the application for commencement of the above voluntary auction. On April 7, 2014, the Defendant revoked the instant right to collateral security on April 8, 2014 after the said application for commencement of the voluntary auction was withdrawn.

E. Meanwhile, the obligation related to the instant loan is KRW 510,103,881 in total as of April 4, 2014 (i.e., the loan agreement of this case in which the principal amount of KRW 470,000,000 is KRW 36,938,657).

[Ground of recognition] A.