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1. The part against the plaintiff falling under the following order of payment among the judgment of the court of first instance shall be revoked:
The defendant.
Reasons
1. Basic facts
A. On June 30, 2009, SPS Savings Bank Co., Ltd. (hereinafter “SPS Savings Bank”) and the Defendant’s Dong Dong Dong Dong Dong Dong E, a primary debtor on June 30, 2009, shall set up a credit transaction agreement to lend KRW 2,500,000 under the name of the Defendant on November 7, 2010 with the maturity of KRW 10% per annum, interest rate of 10% per annum, and interest rate of 25% per annum (interest, etc. shall be paid on the lending date every month). The SPS Savings Bank deposited KRW 2,50,000 in the deposit account in the Defendant’s name of the Defendant (hereinafter “instant loan”). The said credit transaction agreement contains the following provisions.
Article 2 (Compensation for Delay) (1) When interest, installment repayment, and installment repayment fail to pay the principal and interest on the due date, I shall promptly pay the amount to be paid, and shall pay the compensation for delay.
(2) If a mutual savings bank fails to perform its obligations upon the expiration of the credit period, or loses the benefit of time under Article 7 of the Framework Terms and Conditions on Credit Transactions, it shall pay damages for delay on the credit balance from that time.
B. On July 30, 2009, the Pakistan Savings Bank remitted the monthly interest of KRW 20,547,945 (from the above lending date to July 29, 2009), but the monthly interest of KRW 21,232,876 on the above loan from July 30, 2009 to August 29, 2009 did not deposit KRW 21,232,876, and on September 15, 2009, the Defendant sent the notice of credit and legal progress (hereinafter “instant notice”), and the Defendant received the said notice on September 19, 2009.
C. On November 11, 2009, the Pakistan Savings Bank was paid KRW 35,617,187 with principal amount of KRW 2,500,00,000,000 and interest or delay delay damages. On November 19, 2009 and February 17, 2012, each notice to the Defendant to the effect that the Defendant has a remaining overdue interest. At that time, the notice was delivered to the Defendant each time.
On October 30, 2010, the Pakistan Savings Bank was declared bankrupt by Busan District Court 2012Hahap7.