[1] The meaning of "bilateral contract" under Article 103 of the Company Reorganization Act

[2] The case holding that in case where the buyer of an apartment delays the payment of the intermediate payment and the payment of the remainder, the apartment sales contract with the contents that the buyer shall pay the prescribed additional dues and pay the compensation for delay if the buyer is unable to move in on the scheduled date for occupancy constitutes a bilateral contract under Article 103 of the

[1] A bilateral contract under Article 103 of the Company Reorganization Act is a contract under which both parties are liable for an obligation on an equal price basis, and it is reasonable to view that both parties are liable for an obligation on an equal price basis, and that both parties are able to perform their functions as security in legal and economic aspects on the basis of its establishment, implementation, and existence.

[2] The case holding that in case where the buyer of an apartment delays the payment of the intermediate payment and the payment of the remainder, the apartment sales contract with the contents that the buyer shall pay the prescribed additional dues and pay the compensation for delay if the buyer is unable to move in on the scheduled date for occupancy constitutes a bilateral contract under Article 103 of the Company

[1] Article 103 (1) of the Company Reorganization Act / [2] Article 103 (1) of the Company Reorganization Act

[1] Supreme Court Decision 92Da56865 delivered on January 11, 1994 (Gong1994Sang, 678), Supreme Court Decision 99Da6059 delivered on April 11, 200 (Gong2000Sang, 1180)

Plaintiff

The defendant in charge of third party interests of the reorganization company

Seoul District Court Decision 2001Na11894 delivered on September 11, 2001

The appeal is dismissed. The costs of appeal are assessed against the defendant.

1. Article 103(1) of the Company Reorganization Act (hereinafter referred to as the "Act") provides that "if a company and the other party have yet to complete the performance of bilateral contracts at the time when the reorganization procedures commence, a receiver may rescind or terminate such bilateral contracts, or claim for the performance of obligations of the other party." Meanwhile, Article 103(1) of the Act provides that "if a receiver performs an obligation under the provisions of Article 103(7) of the Act, the other party's right to claims shall be held as public-interest claims." This provides that "if a reorganization procedure has commenced against a company which is a party in an executor bilateral contract, the receiver shall obtain the right to rescind the contract or request the performance of the other party's obligation, and if the receiver selects the other party's performance, the receiver shall maintain equity between the parties by holding the corresponding obligations of the company, and it is reasonable to conclude that the reorganization company faces financial difficulties but has economic value at the time of the failure, as well as Article 103(1) of the Act with the aim of establishing the bilateral contract between creditors and other interested parties (see Article 10).

According to the facts duly established by the court below and the records, the plaintiff purchased at 104 621-13, and 700 won above ground-based apartment on August 1995 (hereinafter referred to as "third party-interest") in order to transfer both documents, 621-13 and 92,697,00 won, and when the plaintiff delayed the payment of the intermediate payment and the balance in the above sales contract, the plaintiff shall pay the amount calculated at the rate of 17% per annum to the expiration date. On the other hand, when the third party-interest did not move into the designated date at the time of the announcement of the supply of profits, compensation for delay must be paid to the plaintiff at the rate of 17% per annum to the remaining amount of the intermediate payment (excluding the contract deposit and the balance), and if the inspection date has been delayed due to unavoidable reasons, such as administrative order, etc. which was not attributable to natural disasters or profits, the plaintiff's remaining payment of compensation for delay should be made at the end of 96.196 billion won for the remainder payment.

In the same purport, the decision of the court below that rejected the defendant's assertion that the above liquidated damages claim is a subordinate reorganization claim is justifiable, and there is no error of law such as misunderstanding of legal principles or incomplete

2. Based on the above factual basis, the court below held that the defendant is obligated to pay the plaintiff compensation for delay for the number of days for delay in accordance with the above agreement for delay. The defendant's argument that the above delay in occupancy was caused by the administrative agency's delay in completion schedule of sewage treatment plants, etc., and therefore there is no reason for the defendant. Thus, it can be acknowledged that the construction of the above apartment was less than 50% at the time of March 1998, the initial designation date of occupancy. Thus, the defendant's argument that the court below rejected the plaintiff's claim that the plaintiff did not have any reason for the delay in the construction schedule of sewage treatment plants, as long as the delay in the construction schedule of the administrative agency's occupancy was caused by the delay in occupancy. The plaintiff's argument that the council of occupants' measures including the plaintiff et al. agreed to waive the above compensation for delay with the defendant, but it is hard to see that the plaintiff did not actively participate in the above agreement without participating in the council's meeting, and that it did not violate the principle of good faith and good faith and it cannot be viewed that the plaintiff's claim.

3. Therefore, the appeal shall be dismissed, and all costs of appeal shall be assessed against the losing party. It is so decided as per Disposition.

Justices Lee Yong-woo (Presiding Justice)