Where a supplementary registration of change in the right to collateral security has been made to the effect that it is overlapping, the effect in the distribution procedure shall be effective.

Where a third party takes over the obligation jointly and severally liable and the supplementary registration of change in the right to collateral security has been made for the same purpose, the registration of change is limited to the original obligor's obligation to be borne by the creditor or to be borne by the creditor in the future, and it does not have been made in order to secure the obligation to the creditor of the third party. Thus, in the distribution procedure, the creditor's claim may not be distributed to

Article 357 of the Civil Act, Articles 6 and 63 of the Registration of Real Estate Act

[Plaintiff-Appellant-Appellee] Plaintiff 1 and 1 other (Law Firm Han, Attorneys Park Jae-soo et al., Counsel for plaintiff-appellant-appellant-appellee)

Han Han Bank Co., Ltd.

Korean Bank, Inc.

Seoul Civil District Court Decision 93Na48914 delivered on February 16, 1994

The appeal is dismissed. The costs of appeal are assessed against the plaintiff.

We examine the grounds of appeal.

According to the reasoning of the judgment below, the court below recognized that the non-party Ilsung Industries Co., Ltd. was jointly and severally liable for debt owed to the non-party to the non-party, and the supplementary registration of the alteration of the right to collateral of this case was made for the same purpose. The above alteration registration is limited to the debt that the non-party, the original debtor, bears against the plaintiff or bears in the future. Thus, the above alteration registration is not made for securing the debt owed to the non-party. Thus, in the above distribution procedure, the plaintiff's claim of this case under the premise that the claim against the non-party can not be distributed to the non-party company, and therefore the claim against the non-party company should be distributed to the non-party company in the above distribution procedure. In light of the records, it is proper and proper to find the above fact-finding and decision of the court below

Therefore, the appeal is dismissed, and the costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Lee Jae-soo (Presiding Justice)