1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

1. The reasoning of the judgment of the court of first instance is as follows, except for the part concerning "(b) where the assignment of claims of this case is deemed to have been performed as a substitute for repayment of claims" and the part concerning "(3) the intention to commit suicide and the defendant's bad faith" as stated in the main sentence of Article 420 of the Civil Procedure Act, which is referred to in the main sentence of Article 420 of the Civil Procedure Act.

2. (B) In a case where the assignment of claims in this case is deemed to have been made in substitution for repayment, and where the debtor’s act of reducing the liability property causes or deepens the shortage of common security for general creditors, whether such act constitutes a fraudulent act subject to revocation of creditor should be determined based on whether the act ultimately causes damage to general creditors, by comprehensively taking into account the following circumstances: (a) the nature of the subject matter of the act in the whole liability property of the debtor; (b) the degree of insolvency; (c) the justification and means of economic purpose of the juristic act; (d) the reasonableness of the act in question; (e) the reasonableness of the act in question; (e) the reasonableness of the act’s economic purpose and its realization; and (e) the degree of awareness

Meanwhile, unlike the case where a debtor, who is in excess of his/her obligation, transfers his/her active property to some of the creditors as payment in kind, may, in principle, constitute a fraudulent act in relation to other creditors, unlike the case where the debtor pays his/her obligation to a certain creditor according to the principal place of obligation. However, in such a case, if the act cannot be seen as an act detrimental to the general public’s creditor, it may be denied

Supreme Court on September 30, 2010