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1. The Defendant’s KRW 409,700,000 as well as annual 5% from November 27, 2007 to May 10, 2018 for the Plaintiff.
Reasons
Facts of recognition
Around May 29, 2007, C entered into a contract with the representative director at the time of the defendant company and E to acquire 169,600 shares and management rights of the defendant company for KRW 4.8 billion.
C, D, and F, who was appointed as the representative director of the Defendant Company on May 31, 2007, entered into a management right acquisition agreement with the effect that D, on June 14, 2007, delivered 2.2 billion won to E, and at the same time, D, on June 19, 2007, sent 2.2 billion won to E’s account on June 19, 2007.
C and D decided on June 21, 2007 to recover the above 2.2 billion won until September 20, 2007, and C, upon receiving documents, etc. necessary for management rights from E, transferred them to D by June 29, 2007, and entered into an agreement on the acquisition of management rights with four directors appointed by C and D to jointly manage in the future.
Since then, C acquired the management right of the defendant company, but did not transfer the management right to D, and received additional 600 million won from D as the acquisition fund of G Co., Ltd. which is another listed company.
However, the acquisition process of G Co., Ltd. did not proceed smoothly, and C agreed to return all 2.8 billion won invested to D so far.
After that, C returned to D KRW 40 million and finally bears the obligation of KRW 2.4 billion against D. The Defendant Company provided joint and several surety for the obligation of KRW 700 million out of the above obligation against C’s D on September 28, 2007. On the same day, D issued and delivered a promissory note of KRW 700 million in face value (hereinafter “instant promissory note”) to D on November 26, 2007, and the promissory note No. 20175 in relation to the instant Promissory note was written as of November 207.
The Defendant Company’s debt against C’s joint and several liability (hereinafter “instant debt”) and the Defendant Company.