The Plaintiff is an unlisted corporation that operates painting business, painting business, etc., and was decided to commence rehabilitation procedures by the Seoul Central District Court on January 22, 2014, and was decided to commence rehabilitation plans on August 20, 2014.

(1) The rehabilitation plan provides that “The principal and interest prior to commencement of commercial transaction obligations of the rehabilitation claim shall be converted into equity, and the remaining 23% shall be paid in cash from the first year (2015 to the 10th year (2024) and interest after commencement shall be exempted, and the existing shares shall be converted into 10,000 common shares with the face value of 10,000 common shares with the face value of 10,000 common shares, and new shares shall be issued at 10,000 per share through a conversion into equity, and thereafter shares shall be converted into 15 shares.”

According to the instant rehabilitation plan, the remaining claims, except for the portion of cash repayment from the claims related to commercial transactions among the rehabilitation claims against the plaintiff, were merged with shares at 15:1 after the conversion of investment into equity.

Meanwhile, among the rehabilitation claims against the Plaintiff, C Co., Ltd. (hereinafter “C”) and the Defendant Intervenor B Co., Ltd. (hereinafter “B”), which were creditors related to commercial transactions among the rehabilitation claims against the Plaintiff, and the Plaintiff’s Intervenor B Co., Ltd. (hereinafter “instant rehabilitation creditor”), together with C and B, deemed that the difference between the original book value of the claims converted into investment among the rehabilitation claims against the Plaintiff and the market value of the shares converted into investment (hereinafter “instant rehabilitation claims”) has occurred, and reported a bad debt tax deduction to the

After all, the chief of the competent tax office of the rehabilitation creditor of this case recognized the bad debt tax, and the rehabilitation claim of this case and the recognized bad debt tax amount are as follows.

The market price of the debt-to-equity swap (the rehabilitation claim in this case) is the Seoul business office.