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1. All appeals filed by Defendant B, Defendant C, and Appointor D are dismissed.
2. The costs of appeal are assessed against the defendant B.
Reasons
1. Basic facts
A. At the time of establishment on September 7, 2005, E Co., Ltd. (hereinafter “E”) issued 10,000 equity shares of KRW 5,00 per share in the register of shareholders. The holders of title 4,000 equity shares out of 10,000 equity shares in the register of shareholders were registered as G, 3,000 equity shares, and the owners of title 3,000 equity shares were registered as Defendant B, respectively.
B. Around September 2006, Defendant C entered into an investment contract (hereinafter “instant investment contract”) with respect to I golf courses located in G, G, and Defendant B (hereinafter “instant golf courses”) in the name of H, one of its wife, with the following terms and conditions as to F, G, and Defendant B’s I golf courses located in the G, G, and Defendant B (hereinafter “instant golf courses”). The Plaintiff and J jointly and severally guaranteed the obligation under the instant investment contract against Defendant C, F, G, and Defendant B.
(B) 【Main Investment Contract’s major purpose of Article 1(i) of the Investment Contract’s main purpose is to pay KRW 1 billion to E which Defendant C has developed the instant golf course, and to acquire and hold 15% of the total issued shares of E (amount 5,000 won per share) in return for that purpose. (ii) F, G, Defendant B (hereinafter “three persons such as F”) and E are owned by three persons such as F, etc. of the total issued shares of E and have not been issued shares.
iv) If there are other shareholders having interests, three F such shareholders and E will also include in the parties to this Agreement, and guarantee them. Article 5 (Effect i) Defendant C will hold and maintain 15 percent of the total issued and outstanding shares of E in any event, such as capital increase, stock change, shareholder participation, etc., due to the future expansion of the tax age of E in the future.
C. E, on April 2, 2007, issued 100,000 common shares through the subscription procedure for new shares, and the total issued shares were 110,000 shares. Of 110,000 shares in the register of shareholders, 44,000 shares in the register of shareholders were F, and 33,000 shares in G.