1. Revocation of the first instance judgment.

2. The instant lawsuit shall be dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

Basic Facts

On January 9, 2003, the Industrial Bank of Korea completed the registration of creation of a neighboring mortgage (No. 2003-5 of the joint security list) with the maximum debt amount of 290,000,000 won, the debtor C-mortgage and the Industrial Bank of Korea established a joint collateral security (No. 2003-5 of the joint security list) as a joint collateral with each real estate listed in the separate list owned by C (hereinafter “each real estate of this case”). On September 9, 2003, the Industrial Bank of Korea added machinery and equipment as joint collateral pursuant to Article 7 of the Factory Mortgage

(No. 588 of the Factory Mortgage Act). On September 9, 2003, the Industrial Bank of Korea completed on September 9, 2003 the registration of creation of a new mortgage with respect to each of the instant real estate and machinery as joint collateral, the maximum debt amount of KRW 84,00,000, the Industrial Bank of Korea of the mortgagee, and C

(Joint) The Industrial Bank of Korea loaned C the amount of KRW 70,00,000 on August 14, 2008, KRW 100,000,000 on December 14, 2011, KRW 100,000 on September 26, 2012, KRW 70,000 on December 20, 201, KRW 70,000 on December 25, 2015, KRW 87,000,000 on February 25, 2015, KRW 54,000,000 on April 8, 2015, and KRW 200,00 on June 24, 2015, respectively.

On August 12, 2015, the Defendant and C concluded a contract to establish a collateral security (hereinafter “instant contract”) with the maximum debt amount of KRW 120,000,000,000 as a joint collateral with respect to each of the instant real estate as well as the instant real estate, and completed the registration of the right to collateral security (hereinafter “instant contract”).

(Joint Security List No. 2015-398, Jul. 26, 2016; hereinafter “Joint Security List”). C’s creditor I applied for commencement of compulsory auction on the real estate stated in attached Table No. 4, Jul. 25, 2016, and received a decision to commence compulsory auction on July 26, 2016.

(U) On September 30, 2016, the Industrial Bank of Korea filed an application for the commencement of voluntary auction with respect to each of the instant real estate on September 30, 2016, and received a voluntary decision on commencement of auction on October 4, 2016.

Suwon District Court.