The judgment of the court below is reversed, and the case is remanded to the Seoul Central District Court Panel Division.

The grounds of appeal are examined.

1. All property owned by the debtor at the time that the debtor is declared bankrupt shall belong to the bankrupt estate.

Article 382(1) of the Debtor Rehabilitation Act; compulsory execution, provisional seizure, or provisional disposition, which is effected against the debtor with respect to the property belonging to the bankrupt estate, based on bankruptcy claims that have arisen due to any cause that occurred before the debtor is declared bankrupt, shall lose its effect against the bankrupt estate (Articles 423 and 348(1) of the Debtor Rehabilitation Act). Meanwhile, in the auction procedure for real estate, the distribution court shall deposit the amount of dividends against the claims of the provisional seizure creditor at the time of distributing dividends; and thereafter, when the cause of deposit ceases to exist as the judgment in favor of the creditor becomes final

(Article 160(1)2 and Article 161(1) of the Civil Execution Act. Therefore, a claim by a creditor of provisional seizure who ordered payment in a final and conclusive judgment on the merits shall be extinguished at the time the judgment on the merits becomes final and conclusive to the extent that such claim is appropriated by the deposited dividend amount as above.

(See Supreme Court Decision 2012Da65874 Decided September 4, 2014). Such legal doctrine was declared bankrupt against the debtor after the judgment on the merits became final and conclusive.

Inasmuch as the same applies likewise, the effect of extinction of claims that have already occurred at the time the judgment on the merits became final and conclusive shall be deemed to remain intact notwithstanding Article 348(1) of the Debtor Rehabilitation Act.

In such a case, even if the dividend deposited by the creditor of provisional attachment receives it after the debtor is declared bankrupt, it is nothing more than that the receipt of the deposit already appropriated for the extinction of the claim of provisional attachment at the time the judgment on the merits becomes final and conclusive, which is made at a separate point

Therefore, the deposit money received by the creditor of provisional attachment as above is the trustee in bankruptcy.