The defendant shall receive on June 30, 2010 from the Suwon District Court registry on the real estate stated in the attached list to D.

1. Basic facts

A. The Plaintiff’s claim 1) D concluded a credit card use agreement with the Plaintiff and received credit cards from the Plaintiff.

2) As the Plaintiff did not receive the credit card payment from D, the Plaintiff filed a lawsuit against D with the Jung-gu District Court 2010 Ghana Branch Office 5223. On January 26, 2011, the said court rendered a judgment that “D shall pay to the Plaintiff the amount calculated at the rate of 29.9% per annum from August 11, 2010 to the date of full payment” with respect to KRW 7,613,012 out of the KRW 7,950,013 and the above KRW 7,613,012. The said judgment became final and conclusive on February 25, 2011.

B. On June 30, 2010, the Defendant completed the registration of creation of the right to collateral security (hereinafter “registration of creation of the right to collateral security”) by setting the maximum amount of KRW 10,000,00 for the Defendant, the debtor, and the obligor, the maximum amount of claims, as stated in the [Attachment List] owned by D (hereinafter “instant real estate”) as KRW 91295, which was received by the Suwon District Court on the same day of receipt of the registration of the right to collateral security (hereinafter “registration of creation of the right to collateral security”).

[Reasons for Recognition] Unsatisfy, Gap evidence of Nos. 1 through 3, the purport of the whole pleadings

2. According to the facts of the above recognition, the Defendant’s secured claims for the establishment of the instant collateral security right completed on June 30, 2010 regarding the instant real estate shall, barring any special circumstance, be extinguished upon the completion of the statute of limitations on June 30, 2020 when 10 years have passed since the completion of the said registration, barring any special circumstance. In the event the secured claim is extinguished, the collateral security right shall also be extinguished according to its accessory nature.

Therefore, the registration of establishment of the instant right to collateral security should be cancelled.

The plaintiff, as a creditor against D, can exercise the right to cancel the registration of the establishment of the right to collateral security in this case against D. Thus, the defendant is obligated to perform the procedure of cancelling the registration of the establishment of the right to collateral security in this case which was completed with respect to the real estate in this case.

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