The provisions of Article 7-3 of the Act on Special Measures for Loans in Arrears of Financial Institutions shall apply to cases where the collection of claims is delegated to the Korea Assets Management Corporation after the decision to commence a company reorganization procedure is made.

The provisions of this Article shall apply to cases where the collection of claims is delegated to the Korea Assets Management Corporation after the decision to commence corporate reorganization procedures has been made.

Article 7-3 of the Act on Special Measures for Loans in Arrears by Financial Institutions

Korea Assets Management Corporation

Suwon District Court Decision 70m1 delivered on September 29, 1970

I reverse the original decision.

The grounds for special appeal by a special appellant are examined.

According to the provisions of Article 7-3 of the Act on Special Measures for Loans in Arrears of Financial Institutions, a part of Article 6 and Article 7 of the same Act shall not proceed with reorganization proceedings under the Company Reorganization Act with respect to a company which is an obligor of a claim, the collection of which is entrusted to the Korea Assets Management Corporation pursuant to the provisions of Article 6 and Article 7 of the same Act. In the application of this provision, the time when the collection of the claim is entrusted to the Korea Assets Management Corporation shall be considered as unreasonable even after the order to commence the company reorganization proceedings is issued, in light of the purpose of the above special measures. Therefore, the original decision should be seen as reasonable in light of the above, so the original decision is developing from the opposite position

Therefore, we reverse the original decision by unanimous opinion of all participating judges.

The presiding judge of the Supreme Court (Presiding Judge)