2. The costs of lawsuit shall be borne by the Plaintiff.

A. The Plaintiff’s claim 1) The Plaintiff is a superior ship company (hereinafter “Preferential ship”). The Plaintiff is a superior ship company (hereinafter “Preferential ship”).

B) On December 12, 2008, the charter party (hereinafter “MV. STAR OIPN”) with respect to each of the above charter parties (hereinafter “MV. STR PON”) with respect to < Amended by Presidential Decree No. 20090, Dec. 12, 2008; Presidential Decree No. 20320, Aug. 10, 2007; Presidential Decree No. 20357, Dec. 2, 2008; Presidential Decree No. 20358, Feb. 23, 2006>

(2) The instant charter contract did not pay charterage to the Plaintiff in violation of each of the instant charter contracts. The Plaintiff filed an application for arbitration with the London Maritime Arbitration Committee pursuant to each of the instant charter agreements, and as a result, the Plaintiff rendered an arbitral award on March 18, 2010 to the Plaintiff for payment of charterage and interest in arrears of USD 97,736.52 to the Plaintiff on March 18, 2010, and (2) on March 29, 2010 to the instant charter agreement, the first instance court rendered an arbitral award to the Plaintiff for payment of charterage and interest in arrears of USD 428,369.46 to the Plaintiff.

(3) The Plaintiff filed a lawsuit claiming compulsory execution against the preferred licensee based on each of the instant arbitral awards, and was sentenced to a favorable judgment as to August 20, 2010, the Seoul Central District Court 201Kahap50347, and the said judgment became final and conclusive later. (b) The Defendant filed an application for commencement of rehabilitation procedures on February 6, 2009 and received a decision to commence rehabilitation procedures on March 6, 2009. On February 5, 2010, the rehabilitation plan was approved by the Seoul Central District Court 2009hap24, and the rehabilitation procedure was completed on May 18, 2011.

2) Under the above rehabilitation procedure, the preferred vessel reported the hire and damages due under the charter agreement on the nine vessels including MV. NAO UN, as rehabilitation claims, between the Defendant and the Defendant.