The costs of appeal are assessed against the plaintiffs.

1. As to the grounds of appeal Nos. 1 and 3, the revocation of a fraudulent act does not affect the legal relations between the debtor and the beneficiary, and the validity of the judgment of restitution due to the revocation of a fraudulent act is limited to the creditor, beneficiary, or subsequent purchaser who is a party to the lawsuit, and does not affect the debtor or other creditor. Thus, if a creditor was issued a judgment ordering the beneficiary to cancel the registration of transfer of ownership due to the revocation of a fraudulent act and restitution to the original state, but if the registration of cancellation is not completed, other creditors who

Nevertheless, if the registration of cancellation has been completed due to the above application for registration by other creditors, there is a defect in the procedure.

However, in cases where a creditor won a lawsuit seeking revocation of a fraudulent act and won the lawsuit, the validity of revocation is limited to all creditors’ interests pursuant to Article 407 of the Civil Act (see Supreme Court Decisions 2011Da60421, Dec. 26, 2012; 201Da37001, Apr. 26, 2013). A beneficiary bears the obligation to register cancellation of a transfer of ownership due to revocation of a fraudulent act against another creditor of the debtor. Even if the registration of transfer of ownership cancelled due to the defect in the registration procedure as above is restored, if another creditor files a claim for cancellation of a transfer of ownership against the beneficiary again due to the fact that the registration of cancellation of the transfer of ownership is revoked by the judgment of revocation of the fraudulent act, the beneficiary is bound to make the registration of cancellation, and eventually, it is unnecessary to complete such unnecessary procedures.