1. The Defendant received KRW 68,170,490 from the Plaintiff simultaneously with the Plaintiff’s payment:

(a) real estate listed in the separate sheet;

1. Basic facts

A. The Plaintiff is a reconstruction association established for the purpose of constructing a new apartment on a parcel of 16,100.74m2, other than Bupyeong-gu, Incheon, Bupyeong-gu, and seven lots of land, and was publicly notified by the head of Bupyeong-gu, Incheon Metropolitan City, of the management and disposal plan for a housing reconstruction project.

B. The Defendant did not apply for parcelling-out by July 19, 2012, which is the final date for application for parcelling-out, to the Plaintiff’s members who owned the real estate in the attached list within the said housing reconstruction improvement project zone (hereinafter “instant real estate”).

C. As of July 20, 2012, the market value of the instant real estate is KRW 78,300,000.

As of December 1, 2003, the real estate of this case is subject to a right to collateral security under the name of the Bupyeong-nam Saemaul Depository, the maximum debt amount of KRW 18,200,00 with the Defendant as the debtor. The secured debt of the said right to collateral security is KRW 10,129,510 as of December 27, 2016 (i.e., the principal of the loan amount of KRW 10,00,000,000).

[Ground of recognition] A without dispute, each entry of Gap evidence 1 to 7 (including branch numbers), the result of the market price appraisal commission of appraiser D, the purport of the whole pleadings

2. Determination as to the cause of action

A. Where a partner who has agreed to establish an association in a housing reconstruction project under the Act on the Maintenance and Improvement of Urban Areas and Dwelling Conditions for Residents (hereinafter “Urban Improvement Act”), such as related legal principles, becomes a person subject to cash liquidation under Article 47 of the same Act due to such reasons as not applying for parcelling-out, etc., he/she shall lose the status of the partner and hold the status corresponding to the withdrawal of the association. As such, a housing reconstruction and improvement project association, which is a project implementer, may file a claim for the registration of ownership transfer

However, the time when the obligation to pay the settlement money for a person subject to cash settlement occurs shall be the following day after the expiration of the period of application for sale prescribed by the project implementer pursuant to Article 46 of the Urban Improvement Act.