1. The plaintiff's appeal is all dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

The purport of the claim and appeal is the purport of the appeal.

1. Basic facts

A. On December 28, 2015, with respect to the instant real estate owned by the Plaintiff, the following distribution schedule was prepared on the date of distribution of the said auction procedure (hereinafter “instant auction procedure”) on August 30, 2016, with respect to the size of 1,326 square meters (hereinafter “instant real estate”).

Serial 12,350 won, 112,350 won, 112,350 won, 212,350 won, 2 delivery authority 667,010 won, 350 won, 350 won, 350,100 won, 350,100 won, 350,100 won, 32,713,100 won, 313,100 won, 12,713,100 won, 5 B, 103,40,00 won, 40 won, 80,57,167, 1224 (Judgment) and 36,779,779, 7784, 284, 208, 205, 3684, 208, 205, 3684, 2000 won, 40.

B. On July 21, 2010, the Plaintiff was excluded from the said dividends, even though it created a maximum debt amount of KRW 100,000,000 with respect to the instant real estate, and a collateral security with the obligor E (hereinafter “instant collateral security”).

C. The Plaintiff appeared on the date of the above distribution, and thereafter raised an objection against KRW 68,673,690 out of the dividend amount of Defendant B and KRW 31,326,310 of the dividend amount of Defendant C.

[Reasons for Recognition] Unsatisfy, Gap evidence 1 to 3, Eul evidence 1

2. The parties' assertion

A. On April 30, 2009, the Plaintiff obtained a loan of KRW 380,000,000 on his own real property as collateral and lent it to E. In order to secure the payment of the loan, the Plaintiff’s summary of the Plaintiff’s assertion was established, and thus, in the auction procedure of this case, the Plaintiff shall receive a distribution as the Defendants and the persons with the same priority or senior priority

B. The gist of the Defendants’ assertion cannot be deemed to have held a claim for loans of KRW 380,00,000 against E, and the instant collateral security does not exist since there is no secured claim, therefore, the instant distribution of dividends in the auction procedure of this case.