207 Ghana2793 Contribution

Kimo

Won-si District Doo00

Attorney Han-jin et al., Counsel for the plaintiff-appellant

oo Co., Ltd.

Kuju-si o0

Representative Director Kim Il-c

Seoul High Court Decision 200

December 5, 2007

January 9, 2008

1. The plaintiff's claim is dismissed.

2. Litigation costs shall be borne by the plaintiff.

The defendant shall pay to the plaintiff 50,000,000 won with the interest rate of 5% per annum from the day when the copy of the complaint of this case was served to the day when the judgment is rendered, and 20% per annum from the next day to the day of full payment.

1. Basic facts

A. The Defendant Company is a corporation established on March 27, 2006, with a total of KRW 5,000 per share of KRW 10,000,000, total capital of KRW 50,000,000, and the Plaintiff, Ao, Ao, Kimo, and Lee owned 25% (1,250 shares) of each of the Defendant shares.

B. At the time of incorporation of the Defendant Company, the Plaintiff paid 50,000 won in total.

C. The Plaintiff received 40,000,000 won out of 50,000,000 capital paid by the Plaintiff, and thereafter, deposited the above 40,000,000 won to the Defendant Company on several occasions.

D. The plaintiff was appointed as the representative director of the defendant company on January 5, 2007, but was dismissed from office as the representative director on January 5, 2007, and thereafter Kimo was appointed as the representative director.

E. On April 19, 2007, the Plaintiff was also dismissed from office as a director of the Defendant Company. At present, this title of the Defendant Company is four persons, including Mao 0, Mao 00, Mao (the mother of Mao who is a shareholder), and Mao 00.

F. Meanwhile, on September 5, 2006, Alo 0, who is a director of the defendant company, prepared a written confirmation stating that "I will confirm that I provided 50 million won per-day oo o o o o o o o o o o o over three times from March 29, 2006 to September 1, 2006" and issued it to the plaintiff. However, the written confirmation contains a seal affixed by Alo, Kimo, and Shin o o o.

[Ground for Recognition: Facts without dispute; Gap evidence Nos. 1 through 5; Eul evidence Nos. 1, 9, and 10; the result of the questioning of the plaintiff's main body (part) and the purport of the whole pleadings]

2. The assertion and judgment

A. The plaintiff's assertion

As seen earlier, the Plaintiff lent a total of KRW 50,00,000 to Defendant Company from March 29, 2006 to September 5, 2006, and the Defendant Company paid an interest of KRW 500,000 per month on the said loan. In return, the Plaintiff presumed the representative director as well as 25% of the shares. Accordingly, the Defendant Company is obligated to pay the Plaintiff the said KRW 50,00,000 to the Plaintiff.

B. Determination

" (State) At the end of March 29, 2006 to September 1, 2006, the defendant company provided 50 million won for the loans of 0000 to 3 times, and the representative director Kimo provided 50 million won for the loans of 2006 to 1, 2006, and prepared and delivered a written confirmation to the plaintiff under the name of 00 principal, Kimo, and Shino. The facts that the defendant company provided 50 million won for the loans of 000 won on November 1, 2006 to 550 million won on November 30, 2006, and 250,000 won on November 1, 2007 to 1, 2007 can be acknowledged as follows.

However, the above confirmation document and the payment of KRW 50,00,000, KRW 550,000, and KRW 250,000 are sufficient to recognize that the defendant company borrowed KRW 50,000 from the plaintiff, as seen earlier, 50,000,000 which the plaintiff deposited in the defendant company is basically a capital required for the establishment of a company, and 50,000,000 which is a loan, the defendant company is ultimately not only a company without capital, but also a title holding 25% of the shares of the defendant company. The amount that the defendant company paid to the plaintiff as interest name cannot be viewed as 00,000, not only difference in the amount, but also as 00,000 which are not consistently paid to the defendant company after payment of the money to the defendant company. In light of the above confirmation document and the fact that there is no other evidence to acknowledge that the plaintiff's new shares were paid to the 00,000,000,0000 won,000.

3. Conclusion

Therefore, the plaintiff's claim of this case is dismissed as it is without merit, and it is so decided as per Disposition.

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