1. Of the judgment of the court of first instance, the part concerning the claim of demurrer against the distribution amounting to Defendant F Co., Ltd. with respect to KRW 232,306,993.

1. The reasons for this part of this Court’s reasoning are the sequence 2 to 5 of the 4th judgment of the court of first instance (attached Table 3) No. 15 to 18.

Each of the “as of September 4, 2006,” “as of September 4, 2009,” “as of September 4, 2009,” “each of the instant real estates” in Section 22 of the fourth part is “as of the instant real estates 1 through 12,” and the 6th part of the 7th page [Attachment 6] [Attachment 6].

In addition to the dismissal from [Attachment 5] [Attachment 5] [Attachment 4] [Attachment 3] [Attachment 4]] [Attachment 3] [Attachment 4]], it is identical to the corresponding part among the reasons for the judgment of the court of first instance, and thus, it is cited in accordance with the main sentence of Article 420

2. Determination as to Defendant F’s main defense

A. The gist of the instant safety defense is not only the creditor or debtor of the instant 6-mortgage, but also the owner of the object of auction at an auction to enforce the said right to collateral security.

Therefore, among the distribution schedule of this case, the Plaintiff did not have the standing to file a lawsuit of demurrer against the distribution amounting to KRW 232,306,93 of the dividend amount of Defendant F under the 6-mortgage of this case.

B. Determination 1) A person who is qualified to sue a lawsuit of demurrer against distribution is limited to the creditor or debtor who appeared on the date of distribution and stated an objection against the distribution schedule, but the owner of the object of auction at an auction to exercise the security right includes the debtor of the said period. Therefore, a person not included therein is not entitled to make a statement of objection against the distribution schedule, and even if he/she has made an objection, it is not unlawful and thus, does not have the standing to sue to file a lawsuit of demurrer against distribution (see, e.g., Supreme Court Decision 2014Da53790, Apr. 23, 2015). In light of such legal principles, in light of the foregoing, the right to sue 6 of the instant case was established as to the instant real estate owned by O and R in order to secure the creditor AC’s loan claims against the creditor AC, and the Plaintiff’s real estate was established as to the said creditor, debtor, or the object of auction.