1. Revocation of the first instance judgment.

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. Basic facts

A. On August 31, 2012, the Komato Savings Bank Co., Ltd. (hereinafter “Toma Savings Bank”) was declared bankrupt by the Suwon District Court (2012Hahap23), and on the same day, the Plaintiff was appointed as the trustee in bankruptcy of the Tomato Savings Bank.

B. On March 12, 2010, Earth Savings Bank concluded a pledge agreement with respect to 480,598 shares issued by C Co., Ltd. (hereinafter “C”) and owned by B (hereinafter “C”) with respect to 12, 2010,000 won of the maximum debt amount, and acquired a pledge, and entered into a pledge agreement with respect to 48,598 shares, and thereafter, acquired the relevant share certificates.

C. C became a Defendant’s complete subsidiary in a way that comprehensively transfers shares by establishing the Defendant around May 2012.

The Defendant, a complete parent company, owned all the shares issued by C, a complete subsidiary, and as C shares issued by B were transferred to the Defendant, B became the Defendant’s shareholder who owns 48,598 shares issued by the Defendant.

Around March 2014, the Defendant decided to pay dividends at a general meeting of shareholders (hereinafter “the resolution of the general meeting of shareholders of this case”).

Around that time, the Defendant’s shares issued by B was 12,149,500 won, but there was no fact that B received the above dividends until now.

E. On November 30, 2016, the Defendant’s register of shareholders entered matters concerning pledge rights over the Plaintiff.

[Ground of recognition] Unsatisfy, Gap evidence Nos. 1, 2, and 4 (including branch numbers in case of additional number), the purport of the whole pleadings

2. Determination as to the cause of action

A. The Plaintiff’s assertion C established the Defendant by way of a comprehensive transfer of shares, thereby losing the ownership of the shares issued C and acquiring shares issued by the Defendant on behalf of the Plaintiff.

The plaintiff set up a pledge right of shares C issued under B pursuant to the pledge contract with B and set up a pledge right, and the register of shareholders of C shall be subject to the pledge right.