1. The plaintiff's appeal is dismissed.

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

Purport of claim and appeal

1...

1. Determination as to the cause of claim

A. On October 27, 2010, the Korea Exchange Bank, a summary of the instant case, transferred the claims for loans to Co-Defendant A Co-Defendant A (hereinafter “Co-Defendant A”) held from around 2007 to the Plaintiff on October 27, 201, and notified Co-Defendant A of the instant assignment of claims. As of March 26, 2014, the Plaintiff’s remaining amount of loans as of March 26, 2014 is KRW 1,351,741,466 (= Principal KRW 710,078,033 interest at KRW 641,63,433). The interest rate of arrears is 19% per annum, or is recognized by comprehensively taking account of the overall purport of pleadings in each entry under subparagraphs 1 through 4 (including where there is a number; hereinafter the same shall apply).

B. The summary of the plaintiff's assertion is a company substantially identical to the co-defendant A of the first instance trial, which was established for the purpose of evading the debt of the co-defendant A of the first instance trial. This constitutes abuse of the company system, and thus, the defendant is jointly and severally liable with the co-defendant A of the first instance trial to repay the above loan to the plaintiff.

C. In the event that an existing company established a new company substantially identical in the form and content of the existing company in order to evade debts, the establishment of the new company constitutes abuse of the company system in order to achieve the illegal purpose of evading debts of the existing company. In such a case, claiming that the above two companies have a separate legal personality against the creditors of the existing company is not permissible in good faith. Thus, the creditors of the existing company can claim the performance of obligations against either of the above two companies. However, whether a new company was incorporated with the intent to evade debts of the existing company is determined as to whether the existing company was established or not, at the time of closure of business, at the time of establishment of the existing company, the existence and degree of assets useful for the new company as a new company, and the assets transferred from the existing company to the new company.