1. All appeals filed by the plaintiffs are dismissed.

2. The costs of appeal are assessed against the Plaintiffs.

The purport of the claim and appeal is the purport of the appeal.

1. Basic facts

A. On February 1, 2016, the Defendant filed an application for commencement of rehabilitation procedures with the Suwon District Court 201 Gohap1003, while holding and operating a N golf course in the wife population M (hereinafter “instant golf course”) and a condominium, etc.

(2) The rehabilitation court (hereinafter “Rehabilitation court”) rendered a decision to commence rehabilitation proceedings on March 7, 2016, the rehabilitation decision on June 14, 2017, and the rehabilitation decision on July 21, 2017.

B. The plaintiffs are regular members holding the defendant's golf course membership rights, and regular members have the right to preferentially use the defendant's golf course and related incidental facilities.

(hereinafter “golf membership”). The Plaintiffs acquired golf membership prior to the commencement of rehabilitation procedures.

The defendant's rules stipulate that the principal shall be returned at the request of the withdrawal after ten years of the membership fee paid by the member, and the period of paying the plaintiffs' membership fee has passed.

C. The Defendant’s custodian (hereinafter “trustee”) prepared a list of rehabilitation creditors pursuant to Article 147 of the Debtor Rehabilitation and Bankruptcy Act (hereinafter “the Debtor Rehabilitation Act”) and submitted it to the rehabilitation court in the course of rehabilitation proceedings.

The causes and details of rehabilitation claims and the part concerning "the amount of voting rights" in the list of rehabilitation creditors shall be as follows:

The grounds for a rehabilitation claim: The amount equivalent to the admission fees of golf membership: The amount equivalent to the admission fees of golf membership: The amount equivalent to the admission fees of golf membership.

D. The Plaintiffs reported golf membership membership as rehabilitation claims pursuant to Article 148 of the Act in the rehabilitation procedure.

The cause and content of rehabilitation claims and the part concerning the “amount of voting rights” among the details of rehabilitation claims declaration shall be stated.