1. Of the judgment of the court of first instance, the part against the plaintiff falling under the following order of payment shall be revoked.

Basic Facts

In this part, the reasons for this court's statement are as follows, and it is identical to the corresponding part of the judgment of the court of first instance, so it is citing it as it is by the main text of Article 420 of the Civil Procedure Act.

The first instance court's decision of the first instance court and the fifth first instance court's second instance court's second instance court's second instance's second instance's second instance's decision that "the part part-time loan obligation owed to I by the buyers was guaranteed jointly by the part-time buyer."

The fifth of the judgment of the court of first instance is "C. Conduct of corporate restructuring procedures with respect to Defendant B" as follows.

C. Defendant B’s corporate restructuring proceeding with Defendant B was classified as an enterprise showing signs of insolvency under the former Corporate Restructuring Promotion Act (amended by Act No. 14075, Mar. 18, 2016; Article 3 of the Addenda of the Corporate Restructuring Promotion Act (amended by Act No. 1585, Oct. 16, 2018; hereinafter “Act”) and the former Corporate Restructuring Promotion Act applies to this case. The J Bank, the principal creditor bank, convened the first creditors’ consultative council (hereinafter “consultative council”) to determine whether to commence the joint management proceeding under the said Act.

On June 1, 2016, according to the resolution of the first Council, joint management procedures by the Council were initiated against Defendant B.

The first and second councils consisting of June 1, 2016, and June 24, 2016, respectively, shall be converted to the principal debt. The period of conversion shall be within one month from the time when the disposal of assets related to the guaranteed obligation, such as trust assets, is completed and there is no possibility to repay any additional debt. In such case, the finalized guaranteed obligation shall be subject to the rate of recovery of the claim (8%) based on the liquidation value of the non-mortgaged claim calculated as a result of the inspection of assets and liabilities conducted by the defendant B, and the remainder shall be exempted from the other credit, and the guaranteed obligation against the defendant shall be discharged from the obligation.