The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

The grounds of appeal are examined (to the extent of supplement in case of supplemental appellate briefs not timely filed).

1. With respect to the nature of a special contract for the loss of time limits, the special contract for the loss of time limits may be classified into two parts: the special contract for the loss of time limits, i.e., the loss of time limits, barring any obligee's claim if certain grounds arise according to the special contract for the loss of time limits; and the special contract for the loss of time limits may be classified into two parts, i.e., the special contract for the loss of time limits, i., the loss of time limits, and the special contract for the loss of time limits, i.e., the obligee's intent after the occurrence of certain grounds, and i., the occurrence of the obligee's intent. However, in light of the general special contract for the loss of time limits, it is reasonable to presume the special contract for the loss

(see, e.g., Supreme Court Decision 2008Da42416, Aug. 26, 2010). The lower court, citing the first instance judgment, determined that the provision on the loss of the benefit of time under the contract to facilitate the subscription of bonds constitutes a special agreement on the loss of the right to form, based on the circumstances in its reasoning.

In light of the above legal principles and records, the above determination by the court below is just, and there is no error in the misapprehension of legal principles as to the nature of the provision for loss of benefit.

2. As to the validity of the trustee company’s claim for repayment and the loss of the benefit of time

A. The notification of the loss of the fixed term interest of the Treatment Securities Co., Ltd. (hereinafter “Treatment Securities”) is based on the instant contract between the trustee company and the Defendant, and thus, the effect of the notification of the loss of the fixed term interest of the Treatment Securities Co., Ltd. is immediately to the Plaintiff, the bondholder.