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All appeals are dismissed.
Costs of appeal shall be borne by each party.
Reasons
The grounds of appeal are examined.
1. Judgment on the Plaintiff’s grounds of appeal
A. Where grounds of appeal on the basis of the point of time to determine the scope of the amount of claims extinguished through a conversion of investment according to the rehabilitation plan are prescribed in the rehabilitation plan as a principal debtor instead of repayment of rehabilitation claims, the surety obligation of the rehabilitation company shall be deemed to have been repaid within the scope of the appraised market price of new shares acquired by the rehabilitation creditors as of the effective date of issuance of new shares through a conversion of investment, in lieu of repayment of the amount of the appraised claim
(1) In light of the aforementioned legal principles and records, the court below’s judgment and the judgment of the first instance cited by the court below were justified in rejecting the Plaintiff’s claim that “where a disposition of new shares is impossible for a certain period due to the safeguard deposits issued by the rehabilitation court, the date on which the actual disposal of the new shares is possible or the actual disposal date shall be the date of the new shares.” In light of the aforementioned legal principles and records, the court below did not err by misapprehending the legal principles as to the base point of time for determining the scope of the amount of the claim extinguished by the conversion of shares under the rehabilitation plan as of the effective date of the new shares issued by the conversion of investment in accordance with the rehabilitation plan as of the effective date of the new shares issued by B (hereinafter “B”).
B. Examining the reasoning of the lower judgment in light of the record as to the grounds of appeal on the cost of property investigation, the lower court bears the Defendant’s joint and several liability along with B for the expenses incurred by the Plaintiff while investigating the property between B and the Defendant.