1. Of the distribution schedule prepared on January 21, 2016 by the above court with respect to the Seoul Northern District Court B real estate auction case.

1. Facts of recognition;

A. On March 5, 2014, the Plaintiff entered into a credit guarantee agreement with Nonparty C Co., Ltd. (hereinafter “C”) with a credit guarantee period of KRW 170 million until March 4, 2015, and D, the representative director of C, has jointly and severally guaranteed C’s debt.

B. C received a small and medium enterprise financing loan from the Industrial Bank of Korea’s coal branch, but on October 8, 2014, a guarantee accident occurred that lost the benefit due to delayed payment of principal. On December 30, 2014, the Plaintiff subrogated the Industrial Bank of Korea with the interest on delayed payment amounting to KRW 172,255,750.

C. On October 28, 2014, the Plaintiff: (a) obtained a provisional attachment order of KRW 170 million from Seoul Western District Court Decision 2014Kadan52430, Seoul, Nowon-gu, Seoul, and four parcels F.2 (hereinafter “instant real estate”) owned by D, a joint guarantor, to preserve the claim amount; and (b) completed the provisional attachment registration on October 31, 2014.

On December 27, 2014, the procedure for the auction of real estate was initiated as Seoul Northern District Court B, and the said auction court prepared a distribution schedule with the following content as to the amount of KRW 413,865,912 to be actually distributed on January 21, 2016.

16,871,641 won 100 won 100% of the G lessee (determined date) 1 G 1 G 260,000 won 100% of the dividends distribution ratio for creditors with dividends priority 1 A. A. A. 2 Defendant A. 3 Defendant D Co., Ltd. 6,94,271 won 2.97% of the dividends distribution ratio 2.97% of the amount of dividends distribution ratio for Defendant A. A. 3 Defendant D Co., Ltd. 2

E. The Plaintiff appeared on the date of the foregoing distribution, and stated an objection to the entire dividend amount of the Defendants. On January 27, 2015, the Plaintiff filed the instant lawsuit.

[Ground of recognition] Facts without dispute, entry of Gap evidence Nos. 1 through 7, 9, purport of the whole pleadings

2. Determination:

A. The Plaintiff’s assertion that each act of establishing a collateral on the instant real estate constitutes a fraudulent act, and it shall be revoked.