The plaintiff's appeal is dismissed.

Expenses for appeal shall be borne by the plaintiff.

Purport of claim and appeal

The judgment of the first instance.

1. Details of the disposition;

A. In order to promote a project to create “H” (hereinafter “instant project”), which is a general oil source facility in Jeju-do (hereinafter “H”), the Plaintiff holds shares in the project, such as a corporation established on June 16, 2015, P (75%) a representative director, Q (4.17%) a corporation, R (2.08%) a stock company (2.08%) and S (2.08%).

B. Until June 2019, the Plaintiff anticipated that the instant H completion will be funded by approximately KRW 34.7 billion. Of the required funds, the Plaintiff planned to raise funds through the financial institution’s PF loans, etc., KRW 10.2 billion in equity capital, KRW 24.5 billion in other capital, and KRW 24.5 billion in other capital.

C. On June 23, 2017, the Plaintiff purchased land B, etc. (hereinafter “instant project site”) and completed the registration of ownership transfer in accordance with the aforementioned plan. On August 3, 2018, the Plaintiff entered into an agreement on loans of a total amount of KRW 24 billion with I and other financial institutions as indicated below, and entered into a management trust agreement with the O-based land with the said financial institution as the first beneficiary.

C. C. 4 L. 1 Co., Ltd. in the order of priority beneficiary priority profit amounting to KRW 10.4 billion in the first order of KRW 8 billion in the first order of KRW 10.5 billion in the amount of KRW 3.5 billion in the joint order of KRW 3.5 billion in the second order of KRW 3.5 billion in the joint order of KRW 3.5 billion in the second order of KRW 4.5 billion in the joint order of KRW 2.6 billion in the second order of KRW 2.5 billion in the joint order of KRW 2.5 billion in the M. 1.5 billion in the joint order of KRW 1.5 billion in the amount of KRW 6 N. 2.2 billion in the aggregate of KRW 2.6 billion in the third order of KRW 2.4 billion in the amount of KRW 3 billion in

D. On August 21, 2018, the Plaintiff completed the registration of trust in the name of the O Co., Ltd. on the land of 18 parcels of the instant project site in accordance with the said trust agreement.

After that, the instant H was completed around September 2019, 201, as T Co., Ltd. entered into a contract for the construction work, U Co., Ltd., Fire Services Corporation, Q and V, respectively.

On December 17, 2019, the Plaintiff made each of the above land and the completed amusement facilities as trust real estate and W.