In cases where the registration of establishment of a mortgage was cancelled due to repayment, etc. after a mortgage was transferred to a fraudulent act, the scope of revocation of a fraudulent act and the method of restitution, and whether such a legal doctrine applies likewise to cases where real estate which is the object of a lien has been disposed of

Articles 320, 356, and 406(1) of the Civil Act

Supreme Court Decision 200Da63912 Delivered on April 12, 2002 (Gong2002Sang, 1089) Supreme Court Decision 2002Da41589 Delivered on November 8, 2002 (Gong2003Sang, 46)

Plaintiff 1 and two others (Attorney O Chang-apon, Counsel for the plaintiff-appellant)

Mangy Golf Co., Ltd. (Attorneys Han Han-chul et al., Counsel for the plaintiff-appellant)

Seoul High Court Decision 2011Na86135 decided November 28, 2012

All appeals are dismissed. The costs of appeal are assessed against the plaintiffs.

The grounds of appeal are examined.

In the event that real estate on which a mortgage is established is transferred to a fraudulent act, such fraudulent act shall be established only within the extent of the balance obtained by deducting the secured debt amount of the mortgage from the value of the real estate. Thus, in the event that the registration of establishment of a mortgage is cancelled by repayment, etc. after a fraudulent act, the fraudulent act may be cancelled within the extent of the balance obtained by deducting the secured debt amount of the mortgage from the value of the real estate (see, e.g., Supreme Court Decision 2000Da63912, Apr. 12, 2002). Such a legal principle should be seen as the same in case where real

Examining the reasoning of the judgment below in light of the above legal principles, the judgment of the court below is not partially inappropriate, but it is proper to determine that the defendant paid to the creditors the sum of the secured debt amount of the lien on the building in this case and the amount of compensation paid to the creditors in value according to the mediation established in the lawsuit of revocation of fraudulent act filed against the defendant by Han Young-young Co., Ltd., the debtor, exceeds the market price of the building in this case, and that the defendant did not have the value of compensation to the plaintiffs. In so doing, it did not err by misapprehending the legal principles

Therefore, all appeals are dismissed, and the costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Park Poe-young (Presiding Justice)