A. On February 16, 2010, A Co., Ltd. (hereinafter “Bankruptcy Bank”) entered into a credit transaction agreement with C Co., Ltd. (hereinafter “C”) with a maturity of 14.75 billion won on February 16, 2011, with a maturity of 14.75 billion won (hereinafter “C”), to grant loans at the rate of 11% per annum, and 23% per annum (hereinafter “the instant credit transaction agreement”).

B. At that time, the Defendant, who was the representative director C, concluded a comprehensive collateral guarantee agreement with the Bankruptcy Bank up to the limit of KRW 22.125 million with C to guarantee the obligation of loans under the instant credit transaction agreement (hereinafter “instant guarantee agreement”).

C. From June 16, 2010, C delayed payment of the interest on loans under the instant credit transaction agreement and lost the benefit of time around June 29, 2010.

On August 31, 2012, the Bankruptcy Bank was declared bankrupt by the Suwon District Court (2012Hahap23) and appointed the plaintiff as the bankruptcy trustee.

E. Meanwhile, the Plaintiff was repaid KRW 2,409,998,923 out of the loans under the instant credit transaction agreement from June 10, 2015 to June 23, 2015, when the instant lawsuit was pending.

[Ground of recognition] Facts without dispute, entry of Gap 1 through 4, 6, 7 evidence (including paper numbers; hereinafter the same shall apply), the purport of the whole pleadings

2. According to the facts of recognition as to the Plaintiff’s claim, it is apparent that the loan balance under the credit transaction agreement of this case exceeds the amount the Plaintiff seeks, barring any other special circumstances, the Defendant is obligated to pay to the Plaintiff the amount within the limit of KRW 5 billion out of the loan balance and KRW 11% per annum as agreed from June 16, 2010 to June 29, 2010, and the interest and delay damages amounting to 23% per annum as agreed from the next day to the date of full payment, within the limit of KRW 22.125 million, which is the Defendant’s guarantee limit.

3. Judgment on the defendant's assertion

A. A summary of the allegation that the credit transaction agreement of this case is invalid due to false representation in conspiracy with the bankrupt bank.