1. All appeals filed by the plaintiffs are dismissed.

2. The costs of appeal are assessed against the Plaintiffs.

The purport of the claim and appeal is the purport of the appeal.

1. The reasoning for this part of the reasoning is that the court’s reasoning is as follows: “Defendant C Co., Ltd.” in the judgment of the first instance is “Co., Ltd.”; and “Defendant E” is the same as the description of the corresponding part of the reasoning of the judgment of the first instance, except when comprehensively closing “Defendant M” in the form of “Defendant M”; thus, it is acceptable in accordance with the main sentence of Article 420 of

2. The assertion and judgment

A. Summary of the parties’ assertion 1) The Plaintiffs’ instant sales contract is the Codefendant C (hereinafter “C”) of the first instance trial.

(2) The Defendants M&F, the beneficiary of bad faith, and the subsequent purchaser of bad faith, shall pay the amount corresponding to each of the claims against C to each of the Plaintiffs, as compensation for its value, because provisional registration or seizure registration, which was completed on each of the instant vessels at the time of the conclusion of the instant sales contract, was revoked, and senior collateral security exists. (2) At the time of the instant sales contract, the Defendants, the beneficiary of senior rights, including the right to collateral security, did not have any part of the amount provided as joint collateral for the general creditors of C in excess of the value of each of the instant vessels at the time of the instant sales contract.

Therefore, the sales contract of this case does not constitute a fraudulent act detrimental to the general creditors such as the plaintiffs.

Even if not, the Defendants constitute a bona fide beneficiary or subsequent purchaser.

B. In the event that the real estate on which the mortgage of the relevant legal doctrine 1 is established is transferred to a fraudulent act, such fraudulent act is established within the scope of the value of the real estate, that is, the balance obtained by deducting the secured claim amount of the mortgage in the market value. Therefore, if the secured claim amount exceeds the value of the real estate

Here, the amount of secured debt is the maximum amount of debt in the case of collateral security.