1. The part of the judgment of the court of first instance against the plaintiff, which orders payment below, shall be revoked.

The defendant.

1. Facts of recognition;

A. 1) A project to create a culture and arts tourism complex including leisure and recreation facilities, sports facilities, artists village, etc. on the ground of the land (a total area of 908,643.58 square meters) of the Namyang-si, Namyang-si, which the Defendant owned (hereinafter “instant project”).

D Co., Ltd. (hereinafter “D”) on September 17, 2008

(2) On May 11, 2009, the Defendant sold the above real estate at KRW 50 billion to D on the same day, and D received a loan of KRW 14 billion from an incorporated mutual savings bank (hereinafter referred to as “unsettled mutual savings bank”), private mutual savings bank, Pyeongtaek mutual savings bank, and Scar mutual savings bank (hereinafter referred to as “Scar mutual savings bank”) for the purpose of raising the purchase price on the same day, and paid to the Defendant.

On May 18, 2009, the Defendant entered into a single loan trust agreement (hereinafter collectively referred to as the “instant trust agreement”) and the first beneficiary as of April 2, 2010, in order to secure the above loan obligations, with the lender, the upper limit of the preferential right to benefit was KRW 17.5 billion, the beneficiary and the debtor as of each land and E-ground building listed in the attached Table 1, and the real estate security trust agreement and the real estate security trust agreement for each land listed in the attached Table 2 (hereinafter referred to as “instant trust agreement”).

According to the trust agreement of this case, even before the expiration of the trust period, the trust real estate may be disposed of at the request of the first beneficiary in the event of a violation of the credit transaction agreement between the lender who is the first beneficiary and D who is the debtor.

On May 18, 2009, the defendant completed the registration of transfer of ownership in the name of the original trust in accordance with the instant trust agreement.