1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff, including the part arising from the supplementary participation.

1. (1) The Plaintiff acquired the ownership of the instant real estate on March 14, 2012, and on the same day, set the right to collateral security of KRW 3 billion with respect to the instant real estate, E, a corporation as a collateral security.

(2) On May 25, 2016, Co., Ltd. transferred the foregoing right to collateral security and its secured claim to the F limited liability company. On the same day, the above limited liability company transferred the above right to collateral security and its secured claim to the Defendant joining the Defendant. Accordingly, the registration of collateral security in the name of the limited liability company and the registration of transfer of collateral security in the name of the Defendant joining the Defendant was completed on the same day.

(3) On June 9, 2016, the Defendant completed the registration of the establishment of the right to collateral security (the same as the registration stated in the purport of the claim; hereinafter referred to as the “registration of this case”) made by the Defendant as the Defendant’s Intervenor, based on the registration of the establishment of the above collateral security in the name of the Defendant’s Intervenor.

(4) On March 23, 2017, the instant court rendered a voluntary decision to commence the auction on the instant real estate upon the Defendant’s request, a pledgee of the right to collateral security (H). On July 19, 2017, the instant court also overlapped the decision to commence the voluntary auction on the instant real estate upon the request of the Plaintiff, a pledgee of the right to collateral security, as a

(J) (5) On December 18, 2017, the Plaintiff filed the instant lawsuit against the Defendant with the court of first instance seeking cancellation of the instant registration, and the court of first instance rendered a judgment dismissing the instant lawsuit on September 19, 2018, and the Plaintiff appealed against this.

(6) On September 28, 2018, K Co., Ltd. received the instant real estate bid in the foregoing real estate auction case, and the registration of transfer of ownership in the instant real estate was made in the future of the said company on the grounds of sale due to voluntary auction on the same day.

(7) The registration of the establishment of the establishment of the above units E in the name of E as to the instant real estate.