Since gift and bad faith are presumed to be harmful to a taxation right holder, it constitutes fraudulent act.

Since the real estate in this case was donated to Defendant Incorporated Company without any special reason upon knowing that it would prejudice a taxation right holder, and the defendant's bad faith is presumed, each contract of donation should be cancelled and the procedure for cancellation of ownership transfer

2012 Ghana 31616 Revocation of Fraudulent Act

Korea

AAAAA of an agricultural corporation

January 31, 2013

February 7, 2013

1. The contract of donation concluded on May 22, 2012 between the Defendant and the KB regarding each of the real estate listed in the separate sheet shall be revoked.

2. The Defendant will implement the procedure for registration of cancellation of ownership transfer registration, which was completed on May 24, 2012 by receipt No. 27192, with respect to each real estate listed in the separate sheet, to the head of Suwon District Court.

3. The costs of lawsuit shall be borne by the defendant.

The same shall apply to the order.

1. Indication of claim;

The reasons for the attached Form shall be as shown in the attached Form.

2. Applicable provisions;

Article 208 (3) 3 of Civil Procedure Act)

Grounds of Claim

1. Formation of tax claims;

The YBB (OOOOO 000 OOOOO village apartment 0000 OOOOOOO apartment 0000 in Chungcheongnam-do, Chungcheongnam-do) did not pay a total of 14 national taxes, including value-added taxes, for the year 2008 until the date of filing the lawsuit, and therefore, it became 000 won including additional dues (specific contents are as follows).

(A) 1-1 to 14 - Decision resolution by each tax item)

(B) The details of preserved claims shall be omitted;

2. Fraudulent act;

On May 22, 2012, Nonparty 1 entered into a donation contract with AAA Co., Ltd. with the Defendant Incorporated Agricultural Company, on May 22, 2012, under the status that the national tax of KRW 000,000,000 (hereinafter referred to as “the instant national tax in arrears”) was delinquent (hereinafter referred to as “the instant real estate”). On May 24, 2012, Nonparty 2 entered into the registration of ownership transfer with the receipt number of KRW 0000 on the registration of the Suwon District Court of Suwon District and the receipt number of KRW 2-2 of the instant real estate (hereinafter referred to as “the copy of the instant real estate”).

3. Formation of preserved claims;

The national taxes in this case were already notified prior to the date of the fraudulent act for which the plaintiff sought its revocation, and there is no defect that the national taxes in this case will become the preserved claims.

4. Excess of debts;

At the time of donation of the instant real estate on May 2, 2012, Nonparty 1BB’s active property is the aggregate of KRW 7,765,871 won, assessed as the standard market price 5/12 of the shares in OB in 2,130,975 won and 5/12 of the shares in OB in 2,130,942 square meters in 18,942, Gonam-do, Chonam-do, Jeonnam-do, and Gonam-do, Jeonnam-do, Jeonnam-do, and KRW 59,576,000,00 won in 5/12 of the shares in OB in 59,576 square meters in OB, which are assessed as the standard market price; small property is the aggregate of KRW 7,765,871 won in 12,000,089,150 in OB, which are national taxes preserved claims against the instant fraudulent act.

5. The intention of an injury.

The third party BB completed the registration of transfer of ownership on March 6, 2012 by inheritance from the third party, the former owner of the instant real estate, in the absence of national taxes. The third party BB, on May 24, 2012, issued the registration of transfer of ownership on the ground of donation to AAA of the Defendant Incorporated Incorporated Company, Inc., for the purpose of recognizing and evading that the instant real estate would be subject to the disposition of national taxes in the future. Accordingly, when considering that the third party BB reduced its liability property, the third party BB knew that the gift of the instant real estate would prejudice the general creditor, including the taxation claims.

6. Bad faith of the defendant

In light of the corporate register and the articles of incorporation of the defendant agricultural corporation, the corporation corporation was registered on April 24, 2012, and the promoters were the non-party F and the non-party B's spouse at the time of incorporation, and the non-party F was the spouse of the non-party B and the representative director at the time of incorporation, and resigned as of May 4, 2012 (the certified corporate register 4- 1- evidence 4- 2- the articles of incorporation, evidence 4- 4- the family relations certificate 3- the 5-B), which was submitted at the time of application for registration of business, on May 14, 2012, the shareholders were composed of the non-party H and the non-party 2 who was the representative director, and the non-party 1 and the non-party 25-G corporation's shares were also owned by the non-party 5-B corporation's employees, and the non-party 1 and the non-party 3B corporation's employees were also entitled to the non-party 1's shares.

7. The date on which he becomes aware of a fraudulent act;

The real estate in this case was registered under the name of the defendant, and it was known on June 12, 2012 to collect a certified copy of the register in order to collect delinquent taxes against the third party BB.

8. Conclusion

In light of the above facts, Nonparty AB donated the instant real estate to Defendant AAAA without any special reason upon knowing that it would prejudice the Plaintiff’s taxation right holder, and is presumed to have been maliciously committed by Defendant AAAAAA Co., Ltd... Therefore, it revoked each of the instant gift contracts as stated in the purport of the claim and requested Defendant AAAB to seek cancellation of each of the transfer registration of ownership, which was made in the future of Defendant AAAB to recover the departed property.