1. All appeals by the Defendants are dismissed.

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

Purport of claim and appeal

1.

1. Facts of recognition;

A. On November 16, 201, A Co., Ltd. (hereinafter “A”) lent money to Defendant B on November 16, 201 to Defendant B at KRW 30,000,000, interest rate of 18.9%, interest rate of 30.9%, overdue interest rate of 30.9%, and due date of repayment on November 15, 2014.

(hereinafter “instant loan agreement”). (b)

Defendant C and Defendant D entered into each joint and several guarantee contract with A on the instant loan agreement.

(hereinafter “this case’s joint and several sureties contract”).

On April 30, 2013, the bankruptcy was declared against A by Seoul Central District Court 2013Hahap46, and the plaintiff was appointed as the bankruptcy trustee on the same day.

As of October 30, 2017, the remaining principal of the credit under the instant loan contract (hereinafter “instant credit”) is KRW 14,582,901, and interest and delay damages are KRW 18,034,044.

[Ground of recognition] Facts without dispute, Gap evidence Nos. 1 and 2, and purport of the whole pleadings

2. According to the above facts finding as to the cause of the claim, the Defendants are jointly and severally liable to pay to the Plaintiff the total sum of KRW 32,616,945 (= KRW 14,582,901, KRW 18,034,044) of the remaining principal, interest and delay damages on the instant claim and delay damages on the remaining principal.

3. Defendant B’s defense acknowledged that Defendant B borrowed money from Defendant B. However, Defendant B’s defense that the five-year extinctive prescription period under Article 64 of the Commercial Act expired.

According to the above facts, it can be seen that the maturity date of the instant claim is November 15, 2014.

On November 7, 2017, which was before five years elapse from the maturity date, the Plaintiff submitted an application for the instant payment order on November 7, 2017, which was clearly recorded, and thus, the period of extinctive prescription of the instant claim was interrupted.

On the other hand, Defendant B did not have any way to repay this upon bankruptcy of Defendant B, but in this case, the debtor can make reimbursement by means of deposit for repayment.