1. The plaintiff (appointed party)'s appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff (Appointed Party).

3. Defendant.

1. Basic facts

A. The Plaintiff was the shareholder of Defendant B Co., Ltd. (formerly: V Co., Ltd.; hereinafter “Defendant Company”), and was the real owner and engineer. The Selection L, M, and N were the shareholders of the Defendant Company, and the Selection G, H, I, K, and J were the technical professionals of the Defendant Company.

B. The Defendant Company invested 225 units in the Association, and obtained credit loans of KRW 210,00,000 from the O Association on November 2, 2015.

On July 18, 2016, the appraised value based on July 18, 2016 is KRW 322,625,250.

C. On February 1, 2016, the Plaintiff, Selection L, M, and N (hereinafter “sellers”) transferred the entire shares issued by the Defendant Company and the right to authorize the registration of a construction business to Defendant C, D, F, and E (hereinafter “Buyers”) at KRW 321,00,000 (hereinafter “instant transfer” or “instant transfer contract”), and the Plaintiff received the said transfer proceeds on February 11, 2016.

On February 2, 2016, the buyer prepared and delivered to the seller a statement of performance of duty (hereinafter “instant statement of performance”) stating that “The buyer recognizes and transfers to the buyer all shares issued by the Defendant Company and the right to authorize the registration of construction business, and claims and assets arising from the act before the transfer of shares are owned by the seller.”

E. Q card paid KRW 559,978 on March 14, 2016 to the P Bank account in the name of the Defendant Company. On March 22, 2016, the P Bank decided to hold a general meeting resolution and pay dividends of KRW 10,000 per unit of contribution units.

F. E died on or around December 28, 2017 while the lawsuit of this case was pending in the first instance court.

E’s heir has Defendant R and ASEAN, the wife, and the above Defendants reported the qualified acceptance of inheritance on March 28, 2018, and the court rendered a judgment to accept the above qualified acceptance report on April 12, 2018 (Seoul Family Court Decision 2018Ra3132), and upon the Plaintiff’s request for succession, the above Defendants filed a lawsuit in E.