1. The instant lawsuit shall be dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

Facts of recognition

On November 7, 2014, the Plaintiff created the right to collateral security (hereinafter “instant right to collateral security”) with respect to a site and a ground building located outside D, and six parcels (hereinafter “instant real estate”) owned by the Plaintiff on November 7, 2014, which is the maximum debt amount of the Defendant 590,000,000.

On June 29, 2017, the Defendant received a voluntary decision to commence the auction on the instant real estate based on the foregoing collateral security (U.S. District Court case C), and the said real estate was sold at the auction procedure on February 13, 2018.

In the distribution procedure of KRW 560,00,000 from the sale price of the instant real estate on the date of open distribution on March 21, 2018, Suwon District Court presented a distribution schedule that the defendant is recognized as the holder of the right to collateral security and distributes KRW 468,701,856 to the defendant.

(Reasons for recognition) Facts without dispute, entry of Gap evidence Nos. 4 and 7, the purport of the whole pleadings.

A person who has standing to sue in a lawsuit of demurrer against a distribution on the date of distribution and stated an objection against the distribution schedule (see, e.g., Supreme Court Decision 2014Da53790, Apr. 23, 2015). Of that, even if the debtor was absent on the date of distribution, he/she is recognized as standing to sue in writing, even in cases where the debtor raised an objection in writing after the original date of the distribution schedule was kept on the date of distribution until the expiration of the date of distribution (Article 151(1) and (2) of the Civil Execution Act). However, in the instant case, the Plaintiff appeared on the date of distribution open on March 21, 2018 and stated an objection against the distribution schedule

there is no evidence to acknowledge the facts of objection in writing until the date of distribution expires.

In addition, the debtor who has raised an objection to the distribution shall submit a document attesting the fact of filing a lawsuit of demurrer to the distribution with the court of execution within one week from the date of distribution, and when the debtor fails to submit it, such objection shall be deemed to have been withdrawn (Article 154(3) of the Civil Execution Act), and from March 21, 2018, the date of distribution of the plaintiff.