A person who has standing to sue in a lawsuit of demurrer against distribution shall appear on the date of distribution and raise an objection under substantive law against the distribution schedule, or limited to the creditor or debtor.

A person who has standing to sue in a lawsuit of demurrer against distribution shall appear on the date of distribution and raise an objection under substantive law against the distribution schedule, or limited to the creditor or debtor.

2013 Gohap 16070 Demurrer against distribution

KimA

1. The Republic of Korea 2. GB fisheries cooperatives of the Sung-si;

4. D.D. Credit Guarantee Foundation; 5. ThisCC

December 26, 2013

January 16, 2014

1. All of the instant lawsuits are dismissed.

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

Cheong-gu Office

On July 17, 2013, with respect to the case of voluntary auction of real estate at Suwon District Court 2012ta 0000, the dividend amount for the owner of the delivery authority, the dividend amount for the owner of the delivery authority aa tax office, the dividend amount for the branch office at Sss. s.s., the dividend amount for the owner of the delivery authority, the dividend amount for the Defendant BB Fisheries Cooperatives, the dividend amount for the Defendant DB Credit Guarantee Foundation, the dividend amount for the Defendant DB Credit Guarantee Foundation, the dividend amount for the Defendant DB Credit Guarantee Foundation, and the dividend amount for the DefendantCC, and the dividend amount for the Plaintiff shall be deleted, respectively, and the dividend amount for the Plaintiff shall be corrected to the amount of Eul OO as the dividend amount.

1. Basic facts

A. On December 27, 2006, a collateral security (hereinafter referred to as the “mortgage”) was created on the part of the debtor, the plaintiff, the maximum debt amountOOOOOO, the mortgagee EE agricultural cooperative (hereinafter referred to as the “EEF”) with the right to collateral security (hereinafter referred to as the “mortgage”), as the debtor, the plaintiff, the maximum debt amount, the right to collateral security (hereinafter referred to as the “EF”), was established on the OO-type 861, 845 m2, and 860-1 m2, 188 m2 (hereinafter referred to as the “instant land”).

B. On November 22, 2011, the Plaintiff received a provisional injunction (No. 2011Kadan0000) (hereinafter referred to as “provisional injunction”) on the ground that the right to claim the cancellation of ownership transfer registration on the ground of invalidity of cause as to the instant land was a preserved right (hereinafter referred to as “the instant provisional injunction”), and the said provisional injunction was entered in the register on November 23, 201.

C. From December 201 to January 2013, the provisional disposition of this case, the provisional attachment registration of Defendant Republic of Korea, Defendant BB fisheries cooperatives (hereinafter “Defendant BB fisheries cooperatives”), Defendant DD Credit Guarantee Foundation (hereinafter “Defendant DD Credit Guarantee Foundation”) was completed, respectively.

D. On November 6, 2012, the Plaintiff asserted that the registration of transfer of ownership in the name of DefendantCC should be cancelled because it is based on an invalid title trust agreement. The Plaintiff filed a lawsuit to cancel the registration of transfer of ownership (U.S. District Court 201Da85198), and the judgment was rendered on November 6, 2012 that “The DefendantCC shall implement the procedure for cancellation of transfer of ownership that was completed on the instant land to the Plaintiff,” and the said judgment became final and conclusive on November 29, 2012 due to the withdrawal of DefendantCC’s appeal.

E. On June 15, 2012, the voluntary auction of the instant land, based on the instant right to collateral security, was commenced (U.S. District Court Decision 2012Ma2945, Jul. 17, 2013), and the following distribution schedule was prepared on July 17, 2013.

See Table 4 see Court Decision 4

F. On July 17, 2013, the Plaintiff appeared on the date of distribution of the above auction procedure and raised an objection against the Defendants regarding the total amount of dividends.

[Reasons for Recognition] Facts without dispute, Gap evidence 1 to 3, 5, 6 (including paper numbers), Eul evidence 1, the purport of the whole pleadings

2. The plaintiff's assertion

The Defendants are creditors who completed provisional attachment or attachment registration after the provisional disposition of this case, and since they are creditors against Defendant CC, they cannot oppose the Plaintiff, the provisional injunction holder, after the Plaintiff rendered a favorable judgment against Defendant CC. Therefore, the amount distributed to the Defendants should be distributed to the Plaintiff.

3. Determination on the legitimacy of a lawsuit

ex officio, we examine the legitimacy of the instant lawsuit.

A person standing to sue in a lawsuit of demurrer against distribution has been present on the date of distribution and raised an objection on the substantive basis of the distribution schedule, and in order for a creditor to appear on the date of distribution as a creditor and raise an objection on the substantive basis of the distribution schedule, the fact that he/she is a creditor against the executory debtor under the substantive law is insufficient to have lawfully made a demand for distribution by the deadline for the completion of the demand for distribution. A creditor who has not lawfully made a demand for distribution does not have the right to make an objection on the date of distribution and has been present on the date of distribution and raised an objection on the distribution schedule as to the distribution schedule, even if he/she did not have the right to raise an objection on the date of distribution, and there is no standing to sue in a lawsuit of demurrer against distribution (see Supreme Court Decisions 2003Da27696, Aug. 22, 2003; 201Da63155, Sept. 4, 2002).

In addition, creditors entitled to receive dividends in the distribution procedure include creditors who filed a request for auction by the deadline for requesting a distribution, creditors who made a request for distribution by the deadline for requesting a distribution by the deadline for requesting a distribution, creditors who registered prior to the registration of the first decision on commencing the auction, creditors who have made a provisional seizure prior to the registration of the first decision on commencing the auction, mortgages, chonsegwon and other preferential claims for preferential reimbursement, and who have been extinguished by sale prior to the registration of the first decision on commencing the auction (Article 148 of the Civil Execution Act), and among them, creditors who have the executory exemplification, i.e. creditors who have an executory exemplification, creditors who have a provisional seizure subsequent to the registration of the decision on commencing the auction, and creditors who have the right to demand a preferential reimbursement

According to the above facts as to this case, the plaintiff is merely a person with provisional disposition, which is lower than the right to collateral security of this case and thus cancelled, and does not constitute a creditor entitled to receive dividends as a matter of course in the auction procedure of this case, and did not lawfully demand a distribution by the completion date of the demand for distribution. Therefore, the plaintiff did not have the right to attend the date of distribution of the auction procedure of this case and raise an objection as to the distribution schedule.

Therefore, an objection filed by the plaintiff on the date of distribution is unlawful, and the lawsuit of this case filed by the plaintiff is also unlawful as it is filed by a person who has no standing to sue.

4. Conclusion

Therefore, the plaintiff's lawsuit of this case against the defendants is unlawful and all of the lawsuits are dismissed. It is so decided as per Disposition.