Dividend when the mortgagee exercises the subrogation right on the expropriation compensation with the expropriation of the object of the right to collateral security;

Where the mortgagee of a right to collateral security has exercised the right of subrogation for the expropriation compensation and received a collection order, and the dividend procedure begins due to deposit of the above expropriation compensation, it is reasonable to deem that the amount to be distributed to the mortgagee is the amount including the interest accrued until the date of distribution, damages for delay, and expenses for the enforcement of the right to collateral security.

2014Gahap4118 Demurrer against distribution

○○○ Company

Korea

2014.12

October 15, 2014

1. Of the distribution schedule prepared by the above court on May 22, 2014 with respect to the distribution procedure case, the dividend amount of KRW 1,030,362,386 against the Plaintiff shall be corrected to KRW 1,192,207,094, and the dividend amount of KRW 165,789,386 against the Defendant shall be corrected to KRW 3,94,6788.

2. The costs of the lawsuit are assessed against the defendant.

Cheong-gu Office

The same shall apply to the order.

1. Basic facts

A. Status of the parties

1) Powerju** Dong 2*-6 large 960 square meters (hereinafter referred to as “instant land”) was owned by the leastA, and * The Association transferred the ownership of the instant land on October 15, 2012.

2) On July 23, 2010, Gangwon borrowed KRW 936,00,00 from the PP Agricultural Cooperative. In order to secure the above loan obligations to the PP Agricultural Cooperative, the PP Agricultural Cooperative concluded a mortgage agreement on the land of this case with the PP Agricultural Cooperative on the same day. PPP Agricultural Cooperative completed the mortgage agreement on July 23, 2010 as to the land of this case by the 5** the Government District Court of the Duyang Branch of the District Court of the District Court of the District Court of the Republic of Korea on July 23, 2010 * the debtor BB, the maximum debt amount of KRW 1,220,00,000 (hereinafter referred to as the "mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-mortgage-

3) On November 29, 2011, LA entered into a mortgage agreement on the instant land with the Defendant (competent authority: Pakistan) in order to secure a delinquent tax obligation of 981,746,230 won. According to the said mortgage agreement, the Defendant completed the registration of establishment of a mortgage on the instant land as to the maximum debt of 981,746,230 won. In accordance with the said mortgage agreement, the Defendant completed the registration of establishment of a mortgage on the instant land as the maximum debt amount of 8*** 1,292,573,196 as the maximum debt amount of 1,292,573,196.

4) On March 20, 2013, the Plaintiff acquired loans from the PP Agricultural Cooperative to the Gangwon-B and the instant collateral security transfer from the PP Agricultural Cooperative. On March 20, 2013, the Plaintiff completed the additional registration of the transfer of the right to collateral security by the PP Agricultural Cooperative, which was received on April 18, 2013, for the reason of the transfer of the final claim as of March 20, 2013.

B. The plaintiff's claim execution

On May 31, 2013, the Plaintiff received a seizure and collection order by subrogation for the amount of the above claim up to KRW 1,030,362,386, out of the land expropriation compensation claims which it has against the Korea Land and Housing Corporation as KRW 1,030,362,386, based on the instant right to collateral security (right to collateral security) and was served on the Korea Land and Housing Corporation around that time.

C. The defendant's claim execution

On October 29, 2012, in order to collect delinquent tax amount of KRW 1,650,120,240,000, including capital gains tax, etc. in arrears by DaD pursuant to Article 24 and Article 41(1) of the National Tax Collection Act, the head of the Pakistan seized KRW 1,292,573,196, out of the right to claim compensation for expropriation of the instant land against the Korea Land and Housing Corporation of the largestA, and the said notification of seizure was served on the Korea Land and Housing Corporation around that time.

(d) Deposit of compensation for expropriation and commencement of distribution procedures;

1) The instant land was expropriated by the Korea Land and Housing Corporation on February 11, 2014, and the Korea Land and Housing Corporation deposited land expropriation compensation as 2014Hun-7** on April 14, 2014. On February 21, 2014, on the instant land, the registration of ownership transfer was completed on the ground of the said land expropriation. On February 21, 2014, the distribution procedure was commenced under the Jung-gu District Court Yangyang Branch Branch 2014ta-5** (hereinafter “instant distribution procedure”).

2) On May 15, 2014, the Plaintiff submitted the claim statement calculated by adding the Plaintiff’s claim amounting to KRW 936,00,000 as principal and interest KRW 255,487,734 to the above date and interest KRW 719,360 to the above date in the instant dividend procedure.

(e) Distribution and objection to distribution;

1) On May 22, 2014, the distribution date of the distribution procedure of this case was set up a distribution schedule (hereinafter referred to as the “distribution schedule of this case”) that distributes the amount of KRW 1,030,362,386 to the Plaintiff in the first order among the amount of KRW 1,196,151,772, which is the date of distribution of the distribution procedure of this case, and KRW 165,789,386 to the Defendant (the competent authority) in the second order.

2) The Plaintiff raised an objection against KRW 161,844,708 out of the Defendant’s dividend amount on the date of the above distribution.

[Ground of recognition] Facts without dispute, Gap evidence 1 through 7, Gap evidence 9, 10, Eul evidence 1 to 4, the purport of the whole pleadings

2. Judgment on the plaintiff's assertion

A. The plaintiff's assertion

The amount deposited by the Korea Land and Housing Corporation under the Jung-gu District Court's High Court's High Court's High Court's High Court's High Court's 2014Hun-7* is compensation that can be converted to the land of this case. The plaintiff received the claim attachment and collection order with respect to the above expropriation compensation. Since the plaintiff's receipt date of the right to collateral security against the land of this case takes precedence over the payment date or the payment period of the defendant's tax, the plaintiff can be paid the above expropriation compensation in preference to the defendant as a subrogation right under Articles 370 and 342 of the Civil Code. Meanwhile, in cases where the secured claim of the right to collateral security has been determined due to the reasons such as application for auction of the right to collateral security, the principal claim arising from the new transaction after the determination is not secured by the right to collateral security, but the interest or the claim arising after the determination of the original claim is still secured by the right to collateral security within the scope of the maximum debt amount, the plaintiff should receive 1,192,207,2709 won, 363637.7.7.36

B. Defendant’s assertion

The plaintiff can receive the distribution only within the scope of the claim amount stipulated in the above seizure and collection order, so the above distribution is justifiable.

C. Determination

1) On the other hand, in case where the object of the right to collateral security is accepted, and the right to collateral security was exercised by subrogation under Articles 370 and 342 of the Civil Act with respect to the compensation for expropriation, and the said compensation was deposited and the distribution procedure is commenced, it is reasonable to view that the amount that the mortgagee should receive is the amount that includes the interest accrued until the date of distribution, delay damages, and expenses for the execution of the right to collateral security as to the principal of the secured obligation included in the amount of claim for the seizure

2) Meanwhile, on May 15, 2014, prior to the date of distribution of the distribution procedure of this case, the Plaintiff calculated the amount of the secured claim of this case by the date above 936,00,000 won for the principal and interest 255,487,734 won for the principal and interest 719,360 won for the principal and interest 719,360 won for the principal and interest 1,92,207,094 won for the Plaintiff’s claim. As seen earlier, the amount claimed by the Plaintiff included KRW 936,00,000 for the secured debt of this case, and the interest and delay damages until May 15, 2014 for the principal and interest 200,000 won for the principal and interest 25,000 won for the principal and interest 20,0000 won for the Plaintiff’s claim against the Plaintiff (the amount stated in the claim account statement submitted by the Plaintiff should be recognized as legitimate).

3. Conclusion

Therefore, the plaintiff's claim is reasonable, and it is decided as per Disposition.