1. The Defendants shall jointly and severally pay to the Plaintiff KRW 230,000,000 and the interest rate thereon from August 11, 2010 to the date of full payment.

Basic Facts

On August 13, 2007, Defendant D, representing Defendants B and C, signed a contract with E Co., Ltd. (hereinafter “E”), under which Defendant B and C agreed to sell all of the land located in the Nam-gu Incheon Metropolitan City F (hereinafter “each of the instant land”) and buildings and materials on the land, and all of the completed buildings and materials on the ground thereof, to E, with the price of KRW 850 million.

(hereinafter “instant sales contract”: Provided, That Defendant D and E agreed to pay the purchase price, the down payment of KRW 200 million on the date of the instant sales contract, and the intermediate payment of KRW 600 million on each of the instant lands after E completed the registration of ownership transfer for each of the instant lands, in lieu of payment, E takes over the secured debt of KRW 600 million, which is the secured debt of the right to collateral security (the secured debt of the Indian Mutual Savings Bank: KRW 825 million) established on each of the instant lands, after E completed the registration of ownership transfer for each of the instant lands, in lieu of payment, and the remainder amount of KRW 50 million is to be paid

Accordingly, on August 13, 2007, E paid a down payment of KRW 200 million to the Defendants, and on September 5, 2007, the registration of ownership transfer was completed in the name of E with respect to each of the instant land.

(No. 9231, Sept. 5, 2007). The obligation to cancel the instant sales contract and restore to its original state. However, Defendant B and C filed a lawsuit against E seeking restitution following the cancellation of the instant sales contract, which was declared by the Incheon District Court Decision 2007Gahap16454, on the ground that E did not take the procedure to assume the obligation of the above loans of KRW 600 million according to the instant sales contract.

In this case, E filed an appeal, the Seoul High Court, and the Seoul High Court, upon the cancellation of the sales contract of this case, has the obligation to implement the registration procedure for cancellation of transfer of ownership registration for each of the land of this case. However, Defendant B and C also have the obligation to cancel the sales contract of this case.