(영문) 서울중앙지방법원 2012.10.26.선고 2011가합19329 판결

1. The defendant's each of the plaintiffs' investment funds listed in the "recied money" column for each of the plaintiffs' investment funds, etc.; and

As to each of the above amounts, 5% per annum from November 12, 2008 to October 26, 2012, and from the following day:

C. By the date of full payment, 20% interest per annum shall be paid.

2. All of the plaintiffs' remaining claims are dismissed.

3. 3/10 of the costs of lawsuit shall be borne by the plaintiffs, and the remainder by the defendants.

4. Paragraph 1 can be provisionally executed.

Purport of claim

The defendant's agency in attached Form 1 (hereinafter referred to as "attached Form 1 of this case") for the plaintiffs' investment funds, etc.

Detention means the claim filed from November 11, 2008 to October 6, 201 with respect to each of the above money and each of the above money.

The purport and the delivery date of a copy of the application for change of the cause of the claim shall be 5% per annum, and the next day shall be fully paid.

d. 1 d. 1 d. 20% interest per annum;

Reasons

1. Basic facts

A. Status of the party

1) The defendant's indirect investment established for the purpose of managing the assets of the indirect investment fund.

The Financial Investment Services and Capital Markets Act, enacted by Act No. 8635 of August 3, 2007, (hereinafter referred to as the "Financial Investment Services and Capital Markets Act").

Pursuant to Article 2 of the Addenda, the rank of the former Telecommunication Act (hereinafter referred to as the "former Telecommunication Act") shall be repealed after February 4, 2009.

Trust Co., Ltd., which is a depository and asset management company, and on November 11, 2005, No. 7 of the well-known real estate investment trust (hereinafter referred to as "the same")

The Fund No. 7 of this case d, 00, 6, d, d, d, d, the Fund No. 6 of this case

1) The Plaintiffs are deemed to have suffered loss from the Defendant on the ground that the Defendant violated the duty to protect investors or breached the duty of care in good faith.

At the same time, the Plaintiffs sought this, and submitted an application for the preliminary claim and the cause of the claim on October 10, 2012. The Plaintiffs submitted the said application.

(1) The existing claim is a primary claim, and the value of the beneficiary certificate shall be assessed on the basis of the breach of such duty.

In addition, the assertion that if the beneficiary certificates are purchased, the profits or the originals refunded for the intermediate payment shall be appropriated for the interest.

The claim for damages based on the result of the above appropriation and added it to the preliminary claim. However, this is about the same subject matter of lawsuit.

Since it is only to reduce the quantity in quantity, it can not be viewed as a preliminary claim.

set up each of the instant funds in common with the fund set forth in subparagraph 7 above (hereinafter referred to as “each of the instant funds”) and the beneficiary certificates.

was issued.

2) Plaintiffs 73, except for this case’s ○○○ and 74 △△△△△ Savings Bank (litigants)

including, but not limited to, the plaintiffs without distinguishing between the parties to the lawsuit (hereinafter referred to as "the plaintiffs") :

the purpose of raising, using, etc. funds on the basis of an independent cooperative organization of members;

The amount stated in the column of "investment money" in each column of 'investment money' as community credit cooperatives of this case on the 2nd date of establishment in the column of each of the separate sheet of this case.

The beneficiaries who purchased each of the instant fund beneficiary certificates are beneficiaries.

B. Details of each of the instant funds’ structure and related management plans

1) The Fund set forth in subparagraph 7 is a public offering real estate investment trust, and the Fund set forth in subparagraph 6 is a private model.

U.S. Investment Trust, the Defendant, the management company, issues the beneficiary certificates, ○ ○ Securities, Mez comprehensives

Investment by distributors of convergence securities, Korea Life Insurance, etc. in selling beneficiary certificates to investors;

84 billion won (the fund of this case 7), 30 billion won (the fund of this case 6), 14 billion won in total, 14 billion won.

○○ Bank Co., Ltd., a trustee company (hereinafter referred to as ○○ Bank, a trustee company) by raising funds equivalent to the original amount.

Suwon-si** Gu** 1* * 8,624 square meters above the ground and 9th floor above the ground.

R. A real estate development project (hereinafter referred to as “the shopping center of this case”) which constructs and sells a market (hereinafter referred to as “the instant real estate development project”).

A development project shall be conducted for dump construction corporation (hereinafter referred to as "dump construction"), which is an executor of the development project (hereinafter referred to as "development project").

Loans to be used as business funds, and received the principal and interest of the loan from dives construction at the maturity of the loan.

The amount agreed in advance to investors using the remaining money after deducting trust fees as financial resources shall not be

was set up as an urgent structure.

2) In the event that part of the Fund No. 7 of the instant case purchased beneficiary certificates two or more times with different timing, each purchaser is different from each other.

(2) The plaintiffs are entitled to damages equivalent to interest on the basis of the date of final purchase.

Since it is calculated and claimed, it will indicate the last purchase date in the column of “Attachment 1”.

2) The Defendant: (a) outline of goods of each of the instant funds; (b) plan of principal and interest of loans; and (c) risk analysis, etc.

A management plan of each of the instant funds (hereinafter referred to as “each of the instant management plans”) stating the contents thereof.

prepared and delivered to the plaintiffs, and the main contents thereof are as follows (for a fund No. 6, No. 7):

The contents that overlap with the fund shall not be indicated).

A person shall be appointed.

3) The Plaintiffs’ column for “investment funds” of the details of each of the instant funds creation business, including the Plaintiffs’ investment funds, etc.

As the principal stated, each of the instant funds beneficiary certificates was purchased.

C. The terms and conditions of each of the funds of this case and the contents of relevant statutes

The terms and conditions of each of the instant funds and the relevant statutes are as follows.

Article 7 (Liability of Asset Management Company, Trustee Company, or Distribution Company, etc.) of the Fund Terms and Conditions of each of the instant case, when the Fund commits an act in violation of Acts and subordinate statutes, trust terms and conditions, or investment prospectus, or causes loss to beneficiaries by neglecting its business, and thereby causes loss to beneficiaries, the Fund shall be liable to compensate for such loss.Article 36 (Subject Matter, etc. of Investment) Asset Management Company shall manage the investment trust property as the subject of investment and investment methods falling under each of the following subparagraphs:

(1) It is required to establish a security right to real estate. (2) It is required to establish a security right to real estate; (3) It is required to establish a security right to real estate; (4) It is required to establish a security right to real estate; (1) it is required to establish a security right to real estate; or (2) it is required to establish a security right to real estate with the due care of an asset management company and a manager of the indirect investment fund if the real estate is entrusted under the Trust Act, and the trust is to become the beneficiary or to establish a pledge right to the right to benefit from the trust. (2) If the executor has entered into an agreement with the Corporation to accept an obligation to the investment trust when the repayment of the loan is not performed for a certain period of time, it is possible to establish a security right to real estate under the provisions of the following (3) it is necessary to establish a security right to real estate with the due care of an asset management company and the asset management company of the indirect investment fund. (2) It is required to establish a security right to borrow funds from the indirect investment fund under the following provisions of the Act.

(d) Details of loan agreements, etc.;

1) Defendant 1 bank, bank construction,CC construction, and △△ Real Estate Trust Co., Ltd. (hereinafter “Defendant 1”)

on November 11, 2005, when the defendant is a truster company and a bank, the trustee company and the bank.

권자 , ◎◎건설을 채무자로 하여 은행이 ◎◎ 건설에게 1 , 250억 원을 대여하고 , ◎

◎건설은 □□□부동산신탁을 수탁자 , 은행을 1순위 우선수익권자로 하여 이 사건

Having entered into a security trust contract with the site of the development project and the shopping center of this case as an object of trust;

00 Construction is a project that "the contractor of the instant development project shall be responsible for the completion of the project; and

The term "a loan agreement" was drawn up (hereinafter referred to as "the loan agreement of this case") and accordingly the bank shall do so.

Mail Construction 1 and 25 billion won, and Mail Construction is a real estate trust and a security trust contract.

was concluded.

2) The main contents of the above project and the loan agreement are as follows:

Section 4-(1)(5) The debtor may not repay the loan before the due date within one year from the date of the initial establishment of the Fund.(3) The repayment amount prior to the due date shall be at least 30 billion won. - The debtor who has established the right to claim the payment of insurance proceeds under Article 56 AV(2) shall conclude the AV with the insurance company Samsung Fire and △△△△△ Investment Corporation with the purport of meeting the creditor as the insured and submit the evidence to the creditor. On the other hand, the parties to the contract agree 84/17:33/17 of the insurance proceeds of the Fund of this case and the Fund of this case to the Defendant at least 200 million won before the due date of the initial establishment of the Fund. (4) The debtor shall pay the proceeds prior to the due date of the sale contract of this case to the account of sale in lots: (5) the debtor shall pay the proceeds prior to the due date of the sale in lots transfer to the account of sale in lots, and (4) the debtor shall pay the proceeds prior to the account of sale in lots.

(2) If a plan for repayment of a loan fails to pass the deliberation of the debtor within one month from the date of receipt of the plan for repayment of the loan, the contract shall be granted to the defendant with the authority to sell the project site and the object unsold in lots as an agent or agent for other disposal, and the proceeds from disposal shall be given to the creditor first priority to the repayment of the principal and interest of the loan. (4) The contract party shall set the amount at 40% discount from the initial sale price under mutual agreement between the contractor and the asset management company until six months before the due date of the loan. (2) The contract party agrees that if the rate for repayment of the loan exceeds the obligation to pay the total amount of the loan and interest of the loan to the creditor at the time of the first sale in lots is 60% from the due date of maturity of the first sale in this Article and 10% from the due date of completion of the construction contract to the due to the change in the name of the debtor to the due date of completion of the construction contract; and (3) the contract shall not be made within the due date of completion of the construction contract.

3) Defendant Samsung Fire and △△ Fire pursuant to the loan agreement of this case

The insurance contract of this case was entered into with the value of assets (hereinafter referred to as the "insurance contract of this case") and its main contents.

the following terms shall be the same as the content stated in the instant management plan and shall be subject to the agreement

As such, it decided to dispose of the subject matter of insurance.

Article 1 (Disposal of Subject Matter of Insurance)

(1) The method of disposal shall be a public auction, court auction, voluntary sale, etc., and an insurance company shall obtain prior consent from the insurance company prior to the implementation of all procedures: Provided, That in the case of disposal in the manner provided for in paragraphs (2) through (4) of this Article, prior written notification shall be substituted by the insurance company without any separate consent procedure from the insurance company. (2) The insured (Defendant and Bank) and the insurance company shall sell an unsold article in lots to the extent of the amount discounted by 40% from the initial selling price under mutual agreement, up to six months before the expiration of the lending period. (3) The standards for disposal of public sale of the unsold article in lots shall be set at 60% prior to the expiration of the lending period at the first selling price under mutual agreement with respect to the unsold article in lots, and shall be subtracted by 10% each month.

4) On the other hand, ○ Construction, a contractor, for the instant development project, on December 5, 2005.

The scheduled completion date of the instant construction project shall be determined at KRW 1,02.3 billion (hereinafter referred to as the “instant contract”). The construction amount shall be determined at KRW 1,02.3 billion (hereinafter referred to as the “instant contract”).

The contract for construction was entered into, and the scope of the construction of ○○ Construction under the above contract shall be the aggregate construction.

and Mammy works, including interior works, but not limited to the scope of interior works, and the finishing works, etc. of theater parts

On the other hand, the construction of knives, which is the executor, decided to do directly the construction.

E. Progress of the management and development of each of the instant funds

1) Until June 2008, the completion date of ○ Construction will be determined by the instant contract until June 2008.

The completion of all works within the area (Provided, That fire-fighting systems in the area of a theater are not the scope of construction of ○ Construction

On the other hand, CCTV Construction was completed by November 2008 due to the failure of the reduction work to be completed. On the other hand, on the other hand,

The excluded part from above shall be determined by the contract after selecting a different company, but the construction cost shall not be paid.

The construction has been suspended due to the lack of payment, and the construction has not been implemented until now.

2) The sales rate of the shopping center of this case is less than 27.5% as of June 2008, and it is less than 27.5%.

Since then, almost until now the sale of buildings in lots did not proceed.

3) A plan to repay loans to the Defendant on December 12, 2007, pursuant to the loan agreement of this case, for construction on the ground of dumnasium

B. The defendant's conclusion that the result of the deliberation is not the result of clocks

It was notified to the snow.

4) The Plaintiff’s investment from the Fund No. 7 of this case before maturity of the Fund No. 7 of this case

(3) Payment of each money in the column of "Refund of funds, etc." shall be made under the name of the redemption of profits or the redemption of principal.

was received.

5) On August 2007, 10 billion won out of loans under the loan agreement of this case to the defendant around August 2007.

A. The Defendant repaid the amount of KRW 10 billion to the investors of the Fund No. 7 of this case. The principal or interest

The dividends were paid as dividends to the profits.

[Ground of recognition] Facts that there is no dispute or do not clearly dispute, Gap's 1 to 5, 11, and 15 (branch numbers)

evidence 2, Eul evidence 2, Eul evidence 1 to 3, Eul evidence 4 (including each number)

Each description of each section, including number) of this Court’s ○○ Securities, and △△△ Securities, shall constitute a factual basis for each representative director.

As a result of the conference, the purport of the whole pleading

2. Occurrence of liability for damages;

A. The parties’ assertion

1) Summary of the plaintiffs' assertion

(A) The assertion of violation of the duty to protect investors

(1) Claim as to a description of the completion of the responsibility

In creating each of the funds of this case, the Defendant’s development of ○ Construction, a contractor, of this case

3) The representative director of ○○ Securities Co., Ltd. (hereinafter referred to as “○○ Securities”) and Mez comprehensive financial securities (hereinafter referred to as “○○ Securities”) of this Court

(C) The Plaintiffs received certain amount from the Plaintiff to the Plaintiff’s office as a result of the fact-finding inquiry.

(1) No evidence may be deemed to have been completely different from the amount of the above holder and the amount revealed by the above fact inquiry.

Now, the amount is greater in calculating the amount of damages as seen later (as revealed through the fact inquiry as above).

Only the amount of the source is greater) and the amount that the plaintiffs are the holders of the complaint shall not be deducted additionally.

liability as a result of the execution of only such construction to the extent that the project is not a whole or part excluded;

Despite the fact that the scope of the official duty also causes some exclusion, the plaintiffs

Unlike this, ○○ Construction’s development project in this case on the investment prospectus and proposal for operation.

(1) The risk accompanied by the Fund may be stated as if the Fund had a duty to complete all responsibility.

Protection of investors by hindering the formation of accurate awareness of the content of investment or investment

in violation of section 15(b).

(2) Claim on explanation of asset value depreciation insurance

In creating each of the funds of this case, the defendant

(2) If the total amount of sales revenue is less than 1,17 billion won, the value of assets

With a decline insurance, at least KRW 17 billion was subscribed to asset value depreciation insurance that can be secured.

was explained to the effect that the assets actually entered into between the Defendant, Samsung Fire, and △△ Fire.

value-added insurance contract, the sum of the sale price for the term and the actual sale price for the subject matter of the insurance is not at the guaranteed value.

In the event of an insured event, intermediate payments are twice (in the case of Samsung Fire), three times (in the case of Samsung Fire), and △ Fire

e) The sale price for the sale in question shall be deemed to have been paid in full even if the payment is made.

insurance proceeds in excess of the guaranteed amount due to the sales amount not actually paid;

The risk of being unable to receive was greatly designed, which is the time when the beneficiary decides to make an investment.

Although it is important to consider it as a matter to be considered, it is not always required to give such adequate explanation.

As a result, it violated the duty to protect investors.

(3) Claim concerning explanation of neighboring commercial rights

The sale rate of the shopping center of this case shall be determined by the neighboring business district, and it shall be determined by the room.

In the vicinity of the shopping center of this case, there is a settlement village and other business failure to delay the maintenance of the shopping center.

(1) Notwithstanding the risk of the risk, the defendant shall leave the operating plan or the investment prospectus with respect to it.

There is no entry, and instead the shopping center surrounding the shopping center of this case is in the living and cultural space of young people.

I explained to the effect that the commercial zone is formed, which is consistent with this, the beneficiaries have decided to make investments.

In this regard, it has erroneously transmitted important information to be considered and violated the duty to protect investors.

B) Claim of violation of fiduciary duty in fund management

(1) Unless the contractor bears the responsibility for the completion of the project

The investment prospectus of this case and the operation proposal of this case shall be responsible for the construction of CO as the contractor.

It is written that the joint and several liability for the principal and interest of the loan is imposed at the time of non-construction.

In the situation where the shopping center of this case is not completed, the defendant shall construct ○, a contractor, ○.

No action was actually taken against the State as well as the legal measures such as a lawsuit.

C. This is in breach of the fiduciary duty to manage the fund as an asset management company, as appropriate.

(c)

(2) The assertion that there has been a violation of the duty of care due to the execution, distribution, etc. of funds in violation of the provisions of subsection (2).

As seen earlier, limitation on the obligation to complete the responsibility of the contractor as stipulated in the instant loan agreement

As such, the Defendant, an asset management company, has completed construction works other than the responsible construction part of theCC Construction.

the date of completion as originally planned, in consideration of the expenses incurred in such activities, other completion expenses, etc.

(2) The lack of project costs, despite the duty of due care to manage and execute the project funds appropriately;

under expected circumstances, 10 billion won has been repaid before the due date from the executor and the money has been repaid.

The order of distribution set forth in the Fund Management Plan, etc. of No. 7 of this case, by repaying only to the Fund No. 7 of this case

In addition, the commercial building was neglected, and 24.2 billion won to ○○ Construction Corporation without going through a normal procedure.

The Fund Operation Plan No. 6 of this case, including payment as project costs, and the Loan Agreement of this case

6- In violation of Paragraph 6 of Article 1, it violated the fiduciary duty by executing funds.

(3) Obligations to pay attention to claims for non-payment of insurance proceeds, implementation of security to recover the principal and interest of loans, etc.

argument of violation

The defendant collected the principal and interest of each of the funds of this case from debtors as asset management companies of the funds of this case

Security provided to recover the principal and interest of loans where circumstances arise that make it difficult to collect such principal and interest.

Macker Construction has the duty to implement properly. However, Macker Construction has the duty to complete the construction due to the shortage of funds.

In a situation where it is not available, the method of discount sale, public sale, etc. pursuant to the loan agreement of this case

In case of disposing of unsold stores and receiving insurance proceeds under the insurance contract of this case, the above

Although it is possible to recover the principal and interest of a loan sufficiently with proceeds from disposal and insurance proceeds, it is possible to actively sell at a discount;

In the end, whether the requirements for the payment of insurance proceeds are not satisfied without disposing of public sale, etc.

The principal and interest of guidance are not recovered.

2) The defendant's argument

(A) The assertion on violation of the duty to protect investors

(1) Claim as to the completion of liability

① Pursuant to Article 8-2(1)3 of the instant loan agreement, ○○ Construction Contract is concluded.

Where approval for use is not obtained due to the excluded construction portion, damages and joint and several sureties's liability;

(b) the obligation to complete the responsibility and its resulting general terms, provided that the meaning of the above provision is satisfied;

Since it cannot be deemed that the Defendant is exempt from liability for damages, the Defendant’s completion of liability as a consignee.

No security shall be deemed to have been avoided.

2. That the duty of completion of the CO Construction’s liability may be exempted pursuant to the above loan agreement.

Even if ○○ Construction is not a construction work, it is not an essential part of the construction work and is in the entire process.

1% is nothing more than 1%. In addition, the fire fighting system of the part of the theater that has yet to be installed is ordinarily the time of the construction.

Considering that this content is not the official scope, the defendant's attitude in the operational plan or investment prospectus.

It is difficult to view that there is a duty of explanation.

3. The Plaintiffs, even if they are obligated to do so, shall make investments in each of the instant funds.

prior to the filing of the contract and the documents, etc. including the loan agreement of this case from the defendant

Since the review was conducted, it was well known that the scope of the obligation to complete the CC Construction was well known, and even if so.

Even if the plaintiffs did not properly examine them, they are financial institutions of this case.

Each fund shall be provided with information on each fund from the defendant and accurately grasp the risk, etc.

The Plaintiff, a beneficiary of the Fund No. 6 of this case, a private model fund, should be deemed to bear the duty. In particular, the Plaintiff, a beneficiary of the Fund

Considering the circumstances in which the above duty to explain is exempted or mitigated to the public.

The defendant may not assert the violation of the duty to protect investors.

(2) Claim on explanation of asset value depreciation insurance content

The Defendant is related to each of the instant insurance contracts to each of the instant fund distributors.

Goods expressly paid at least two to three times in explain the specific terms and conditions of the intermediate payment shall be divided.

The provision that is deemed to have been paid in full was known. The sale price was 2 to 3 times.

Real estate development business operator as a risk of sale itself if the balance, etc. remains unpaid after such payment

It does not mean that it is always existing in the business and it is not possible to prevent it fundamentally.

In this regard, the Defendant violated the duty to protect investors in relation to the explanation of the content of asset value depreciation insurance.

(2) No such institution shall be deemed to have any objection.

(3) Claim concerning explanation of neighboring commercial rights

The defendant indicated the existence of the house development village through the investment prospectus. The defendant expressed the plaintiffs as to the plaintiffs.

(2) If the sales environment is excellent without clearly explaining the existence of the settlement village, it shall be deemed that the sales environment is excellent

Even if ordered, the shopping center of this case is located in three minutes of the station area adjacent to the Suwon Station.

The administrative authorities also promote and gather residential environment improvement projects for the neighboring areas of the shopping center of this case.

In light of the circumstances that the defendant expressed his/her opinion to close a creative village, the defendant's assertion

It is difficult to see such breach of the duty to protect investors.

B) The argument regarding the breach of duty of care on the part of the vessel owner

(1) The assertion that the contractor did not assume the obligation to complete the responsibility.

In accordance with the loan agreement of this case, the Defendant is obliged to complete the liability to ○○ Construction pursuant to the loan agreement of this case

Even though ○○ Construction did not perform it, it was not completed due to ○○ Construction's failure to do so.

C. Moreover, legal action as a specific response to the nonperformance of the obligation to complete the responsibility ofCC Construction

The shopping center of this case, through cooperation and opinion, shall not enforce the obligation of completion of liability, or through cooperation and opinion.

Since it is an issue of the business judgment of the Defendant, a asset management company, which makes efforts to advance the completion,

As alleged by the plaintiffs, the fact that the plaintiffs did not take legal measures, such as litigation

It is difficult to see that the Defendant violated the duty of care, and the actual Defendant shall select a substitute construction work.

to realize the status of the obligation to complete the liability through sale, etc.; or

The Court had served.

(2) a violation of the duty of care due to the execution, distribution, etc. of funds in violation of the provisions of subsection (2)

The case cited by the plaintiffs as the main reason for the defendant's duty of care.

Each fund management plan cannot be deemed as a contractual effect between the plaintiffs and the defendant.

In addition, the funds executed by the defendant are used most preferentially in the execution of the instant development project.

The Defendant’s preference is used as design expenses, supervision expenses, sales fees, taxes and public charges, etc. to be used.

It is difficult to see that he/she violated a fiduciary duty.

(3) Claim on the non-claim of insurance money, violation of fiduciary duty on the enforcement of security, etc.

Disposition by means of a discount sale under the loan agreement of this case is not a mandatory provision, but a disposition

It is possible to consider various disposal methods according to the intention and reasonable judgment, and the defendant of this case

A variety of efforts have been made to sell or lease the shopping center, but the general real estate awareness has been made;

The defendant's negligence cannot be regarded as the defendant's negligence because the disposition was not made by the plaintiff's body.

In addition, the insurance money under the insurance contract of this case is â€˜1 completion of the insurance object.

3. The requirement that the sale of all insurance objects is completed.

The shopping center which is the object of the insurance contract of this case shall be fully completed.

(1) The public sale of the property at the intermittent value is likely to be subject to the consent of the insurer, and shall not be subject to such approval.

Since the whole shopping center should be sold, some discount sale alone satisfies the above requirements.

not, but not paid insurance money due to the failure to meet these requirements.

Therefore, this cannot be said to be the negligence in operation.

B. Determination

1) Determination on the assertion of violation of duty to protect investors

A) Relevant legal principles

A truster company which is the founder and operator of an investment trust shall be a good manager to hold the trust property.

investment issues or subject matters, because they are responsible for and must protect the interests of beneficiaries.

reasonable investment based on the information provided by investors by providing correct information on such information.

The management company has a duty of care to consider and protect investors so that it can make a judgment;

(1) does not take any action against the misunderstanding of the investment targets.

investor's accurate awareness of the risks or investment involved in the transaction.

in violation of the investor's trust in the case of providing false information to create such information;

An investor is liable to compensate for damages suffered by the investor by committing an act (Supreme Court Decision 6 September 6, 2007)

See Supreme Court Decision 2004Da53197, supra.

B) Determination on the assertion regarding the completion of liability

Each management plan of this case is "the completion of the responsibility of the contractor ○ Construction and the completion of the responsibility of the contractor."

The principal and interest of joint and several sureties limited to the performance, and the commencement of the loan within three months and 27 months;

There is no event, such as the default of a project with a warranty from ○ Construction to complete the project.

under the contract of this case, the risk of completion is low, and according to the contract of this case.

The interior works of interior works and the finishing works of the theater shall be excluded from the scope of the construction of ○○ Construction.

the loan agreement of this case shall obtain approval for the use of the part of the construction excluded from the contract.

corporation shall be liable for damages due to breach of the obligation of the contractor to complete the liability or any year by the contractor.

The facts of the provision that the applicant does not assume a duty to guarantee (the proviso of paragraphs 8 to 2(1)) are above.

as stated above, and the purport of Gap evidence 4-1, 16-1, 6-1 and 6 as a whole, and the purport of the whole of the arguments

Joints with the investment prospectus of the Fund No. 7 of this case as to the completion of ○ Construction’s liability

A loan made on September 7, 2005 at the beginning, September 7, 2005, providing a statement to the same effect as each management plan.

on October 26, 2005, and November 4, 2005, as well as the draft of the agreement, are in the provisional draft of each loan agreement by persons on November 4, 2005.

There is no provision for exceptions to the duty of completion of liability, such as the proviso to Article 8-2(1) of the Loan Agreement

The management plan of this case and the statement of the investment prospectus are the contractor.

○○ Construction bears the duty to complete the responsibility for the entire shopping center of this case, and until the completion date of the project.

If the construction is not completed, ○○ Construction is responsible for the breach of the obligation to complete the responsibility.

As such, the 20 construction violates the obligation of joint and several sureties due to default, etc.

Unless otherwise, completion of the shopping center of this case or collection of principal and interest of the shopping center is not possible.

One is the interpretation that the loan agreement of this case is guaranteed, while the loan agreement of this case is different from that of ○○ Construction.

financial status of ○ Construction by prescribing exceptions to the scope of the obligation to complete the responsibility; and

Where both the completion of construction and the collection of principal and interest of the shopping center of this case are not guaranteed.

The defendant, the truster company of each of the funds of this case, is the investor.

In addition, there is a misunderstanding about the target of investment by issuing each of the instant management plan and the investment prospectus.

It is reasonable to deem that the indication, etc. was made.

As to this, the Defendant: (1) The loan agreement of this case only with the provisions of Article 8-2(1)3 of the loan agreement of this case

It is insufficient to conclude that the obligation of the contractor to complete the CC construction is exempted, and ② the United States

Considering the ratio of the entire process of the part constructed, the Defendant’s contract of this case to the Plaintiffs

It is difficult to view that the Plaintiffs had a duty to explain the content of the drugs. 3 It is reasonable to view that the Plaintiffs were each of the funds in this case.

Before making an investment, the Defendant has already included the contract document and the loan agreement of this case to the selling company

The plaintiffs had already known or could have sufficiently known the documents, etc.

I asserts to the effect that it is called.

The purport of the entire pleadings is shown in the above facts and evidence No. 5.

In other words, in Articles 8-2(1)2, 2(2), and 8-3 of the loan agreement of this case, the completion of liability is required.

public corporation shall complete the construction of the project building in compliance with the provisions of the relevant laws and regulations, and the

certificate of completion issued by the relevant authorities, as prescribed by the relevant statute;

(1) In the case of failure to complete the responsibility of the contractor, the Corporation shall not be required to obtain any approval from the Corporation.

shall be liable for the full amount of the debtor's debt, including the principal and interest, or joint and several liability;

approval for use due to the work not covered by this construction contract and specified therein;

In the case of failure, recognition of the facts prescribed to the effect that the above joint and several liability is exempted;

may be subject to strong sanctions against the breach of the duty of completion of liability;

Real estate indirectly through loans to real estate development business entities, such as each of the funds in this case

Whether a real estate development project can be implemented normally in case of making an investment in

and to secure profits and risks arising from development, methods of recovery of investment proceeds and security therefor.

As an important factor, the obligation of the contractor to complete the project is in progress.

As well as to be a key element, and based on this, the security shall be secured to recover the amount of investment.

this case, (in the case of this case, the establishment of trust interest to the shopping center of this case

Measures to secure the recovery of investment funds such as the insurance contract of the case and the joint and several sureties of the Si Corporation

This is due to the fact that it is connected with the duty of completion. Such a general contract is entered into.

The obligation to complete the responsibility with strong sanctions compared to the nonperformance of the obligation is between the parties.

(b) if the scope is provided under the agreement, it shall be interpreted strictly as possible; and

It is reasonable to view that the scope of the loan agreement of this case can not be expanded and interpreted. This paper does not apply to the loan agreement of this case.

Co., Ltd. with respect to the portion of construction outside the scope of construction stipulated in the agreement;

If it is stated that the strong sanction against breach of duty itself is exempted, such strict sanction as above.

Considering the need for a significant interpretation, it shall be deemed that the obligation to complete the responsibility itself is also exempted;

The obligation in itself is not exempted by the exemption of sanctions against breach of duty as above.

In light of the fact that it is also unreasonable to view it, the books of construction work ○○ Construction under the loan agreement of this case

We do not accept the Defendant’s assertion that the obligation to complete the construction has not been exempted.

The argument that there was no duty to explain as to the duty of completion of liability because the part of construction is insignificant.

If there is an agreement that it would be out of the scope of the completion of the responsibility of the contractor, the foregoing shall not apply to the health team.

The necessity of strict interpretation, the responsibility completion duty is ultimately premised on the approval for use of a building.

Considering that the part of the construction in excess of the scope of the responsible construction completion is approved for use.

Unless there are special circumstances, such as minor matters, in itself, the completion of liability.

It is reasonable to see that the defendant has a duty to explain in relation to non-existence, and in addition, in this case, the defendant is on August 201.

24.The costs of completing the unexecutiond parts through the preparatory documents are approximately KRW 15 billion.

u) A’s evidence No. 11 (No. 12, 2009) was alleged to have reached KRW 20 billion, and the Defendant’s transport on May 12, 2009

In addition to the description of the current status statement), the part which is currently not constructed is described as a whole.

It is also unclear whether the share in the process is insufficient to the extent that the defendant asserts;

This part of the defendant's assertion is not accepted. 3 Lastly, the plaintiffs' last ○○.

As to the assertion that the construction had already been aware of the exemption from the obligation to complete the construction’s liability;

Eul’s certificate of heading 30 to 46 (including each number, if any)

Recognizing that ○○ Construction was well aware of the specific obligation to complete the responsibility.

It is difficult, and there is no other evidence to acknowledge it, and the plaintiffs were serving as financial institutions.

Thus, it cannot be presumed that the above facts could have been easily known.

As seen earlier, as seen earlier, the Defendant’s respective management plans of this case against the Plaintiffs, investors.

any statement that leads to misunderstanding in connection with the duty to complete the responsibility of the contractor by issuing a statement and an investment prospectus;

(1) The court shall notify the Si of the change in the content of the obligation to complete the responsibility.

If the defendant did not take such measures, the plaintiffs who are investors shall be the plaintiffs of this case.

the trust or expectation that each of the instant funds will be managed in accordance with the note and the investment prospectus.

As to the risk or content of investment accompanying the fund of this case, it shall be deemed that the fund of this case is in danger.

Since the defendant could not form an accurate perception, the defendant could ultimately violate the duty to protect investors.

Accordingly, the plaintiffs who are investors are responsible for compensating for the damages suffered.

In particular, the Fund No. 6 is a private model fund, and the plaintiffs can be seen as a financial institution.

Therefore, as to the assertion that the above duty to explain is exempted or mitigated, the Health Board shall do so.

Considering the negligence of the defendant or the limitation of liability of the defendant, it is sufficient and sufficient to protect investors

It is reasonable to view that other standards are not applicable to the judgment of the court.

C) Determination on the assertion regarding explanation of asset value depreciation insurance

In the fund management plan of this case 7, concerning risk of asset value decline insurance

The amount of security shall be KRW 1, 17 billion, and the proceeds from sale after the completion of sale of the subject matter of insurance shall not be paid to the amount of security.

to the extent of the balance of the principal of the loan by a financial institution, such institution may be entitled to compensation within the scope of compensation.

The facts stated above are as follows, and according to Gap evidence No. 2-1, the facts of this case 6

plan for the fund also includes a statement that is similar to that of the fund management plan. A. 5 and 6

In light of the overall purport of the pleading in the statement of evidence, construction of dump shots is the date on which each of the funds in this case is created.

After December 23, 2005, and November 24 of the same year, 2005, between Samsung Fire and △△ Fire.

under each of the above insurance contracts: maximum of 10 billion won under each of the above insurance contracts;

shall be the value of the security, and the joint insurance ratio (the defendant who is the insured at the time of the occurrence of the insured event) shall bear

B at 20%, and in the case of Samsung Fire, the intermediate payment is paid up to twice in the case of the insurance contract with Samsung Fire.

The unpaid amount shall be the revenue from sale in lots, and the insurance contract with △△ Fire shall be paid three times.

(4) The content of the insurance is subject to an agreement to consider the unpaid amount as the proceeds of sale.

4) According to Gap evidence No. 11, if the shopping center of this case pays twice part payments, 50% of the total sales amount, 3 times, and

It can be seen that 60% of the total purchase price is considered to be paid by the intermediate payment.

2.3 times to three times, as seen earlier, as the result of the completion of the sale or disposition;

(2) If the sum of the proceeds from the sale including the unpaid amount and the proceeds from the disposal falls short of the guaranteed amount;

the insured shall pay to the insured the remainder, excluding the joint insurance ratio, as insurance money.

= (Guarantee value - disposal price - sale price) x (1 - joint insurance ratio)) of the structure

(2) If such an insurance structure is the same, the sales revenue is the only 50% of the sales revenue.

The difference of the insurance proceeds to be paid in calculating the insurance proceeds on the premise that the amount of revenue is secured;

In this regard, half of the guaranteed value of the actual secured sales revenue, as the case may be,

It seems that there may be a case where insurance money can not be paid in case of remaining insurance money.

The defendant did not explain this to the plaintiffs, but rather, Gap evidence No. 1 and No. 2

The following facts recognized as evidence 1-1 and Gap evidence 11, namely, the defendant's explanation of the fund:

Note, through each of the instant management plans, etc., to the Plaintiffs as of the due date of each of the instant funds

The unsold goods are disposed of at least 5% of the total selling price under the sale rate of 26% close to the quantity ratio;

In light of the fact that the Defendant prepared and distributed the check as if the principal did not incur any loss, the Defendant

The nature of each of the instant insurance contracts is not properly explained, and at a specific point due to the absence of such explanation.

investment risks have been distributed by securing the difference between the market selling price and the guaranteed price;

The Plaintiffs are aware of the risk of each of the funds of this case or of the investment contents.

Since it can be sufficiently recognized that the defendant could not form the obligation to protect investors, the defendant must ultimately protect investors.

and accordingly, the plaintiffs who are investors are liable to compensate for the damages suffered.

(c)

As to this, the Defendant: ① Sale risk is not an inherent risk in each of the funds of this case.

Since it cannot prevent this, the insurance contract of this case closely related to the risks of sale.

It argues that there is no duty to explain to the effect that there is no duty to explain, but the sale risk inherent in each of the funds itself.

To avoid the investment risk of each of the funds of this case, even if it is not a unique risk

As long as each of the funds of this case was issued in connection with one means, the defendant shall be the investor of this case.

There was a duty to explain and provide accurate information concerning the investment risk of each fund.

It is reasonable to see that the Defendant’s distribution company is based on the evidence Nos. 30 through 45.

Even if it can be acknowledged that the contents of the insurance contract of this case were known, the plaintiffs thereby.

The defendant's assertion that it is difficult to see that the contents of the insurance contract of this case were known.

[Judgment of the court below] The defendant is not allowed to accept the report of the value of assets, such as the insurance of this case, and the real estate

Long-term Insurance (Assured Valma) If the payment of a certain number of part payments is made, the remainder.

an assertion to the effect that it is general to calculate the proceeds of sale, but the foregoing insurance

The above defendant's assertion is true in that it cannot be seen as a widely known insurance.

However, such circumstance alone is difficult to view that the defendant is exempted from liability.

D) Determination as to the assertion regarding the explanation of neighboring commercial rights

Basicly, indirect investment by investment trust is necessarily accompanied by risks;

The nature of the above investment, even if the Asset Management Company has the duty to protect investors;

Exclusion of the risk factors of the body from the danger factors or bear the duty to explain all risk factors.

not, and due to the inherent risk in financial investment instruments, the risk of loss of original and the risk of decrease in return on investment;

C. The risks associated with the structure, etc. of the product will be subject to the duty of explanation, and the above explanation.

The obligation is not simply a duty to notify what it is, but independent in accordance with the circumstances of the investor.

Considering that the provision of judgment means the provision of judgment; and

Even if a person who bears the duty to explain does not provide such information, the investor is easily informed or made self-investment.

in principle, if such content can sufficiently be known in the course of measuring investment risks by itself, it shall be:

It is difficult to view that it is subject to the duty to explain. Gap evidence 2-2, Gap evidence 4-1, Gap 10, 11;

14 If the contents and images of the evidence show the overall purport of the pleadings, the defendant has set forth each of the following subparagraphs:

The living and cultural space of the young class, such as a magach shopping center, a cinema, etc., through a plan for use, etc.

It is true that the development of this case was explained by "the creation of a business district suitable for young generations", "the creation of a business district suitable for the Lyle",

After the date of establishment of each of the instant funds, at least until the maturity date of each of the instant funds.

The Financial Supervisory Service, as above, shall explain the defendant's explanation of each of the funds of this case.

Recognition of the fact that the contents of business feasibility are poor analysis and sanctions have been imposed on the defendant, etc.

the shopping center Gap No. 2-2, Gap No. 10, Eul No. 28, and Eul

If the contents and images of the evidence No. 29-1 show the overall purport of the pleading, the above ad hoc village is the same.

The fact that the shopping center of this case is directly linked to the shopping center of this case, and this company is located through several media companies.

Before the establishment of each fund, the Si Council and the Urban Planning Council for the closure of the said house-building village.

Report to the effect that it is seeking advice from the Council or planning to implement an urban maintenance project.

The fact that the plaintiffs made the investment. According to the above fact of recognition, the plaintiffs are at the time of investment.

In the process of grasping the location and current status of the shopping center of this case, the existence of the said settlement village can be easily known.

It appears that the above facts were found to have existed, and only on the basis of the above facts, each of the funds in this case against the plaintiffs

of the investment risks that may result in the risk or failure to form accurate awareness of the investment;

The plaintiffs in this part are not sufficient to acknowledge facts and there is no other evidence to prove them.

such request shall not be reasonable.

2) Determination as to the assertion of violation of the duty of care in good faith

A) Determination as to the assertion that the contractor did not impose the obligation to complete the responsibility

The loan agreement of this case and the construction of ○○ Construction and Mack Construction

(b) The scope of the obligation to complete the CC Construction has been reduced by the reduction and the failure to complete the construction is actually not completed.

As seen earlier, ○○ Construction was exempted from liability, but this does not preclude the Plaintiffs as investors.

The defendant's objection in that the contract was signed and was in the process of creating each of the funds of this case.

It is difficult to regard each of the funds of this case as the negligence in managing each of the funds of this case, and the duty to protect investors as seen earlier.

It is reasonable to see that it is related to the violation, and as long as the obligation to complete the responsibility of ○○ Construction is exempted.

The defendant also could not demand ○○ Construction to perform his duties, and the defendant, however, can not demand the implementation of this case

The purport that the shopping center’s duty to complete the responsibility forCC Construction shall be fulfilled at the completion date of the shopping center.

○○ Construction, which appears to have been required by this section, asserts that ○○ Construction is exempt from liability and has made such demand.

The fact that it appears to have been endeavored to take measures to cut off the situation (No. 17).

In light of the above, the submitted evidence alone violates the duty of good faith as asserted by the plaintiffs to the defendant

It is insufficient to acknowledge that there was this, and there is no other evidence to acknowledge this.

The part of the plaintiffs' assertion is without merit.

B) As to the assertion of a breach of duty of care due to the execution, distribution, etc. of funds in violation of the provisions

Judgment

According to Article 4 4-3 of the loan agreement of this case, dump construction is the establishment date of each fund of this case.

within one year from the date on which the reimbursement can not be made, and at least 30 billion won in the event of subsequent repayment

Since the fact that the defendant is required to redeem above is as seen earlier, the defendant candle construction dumnasium

(1) The early repayment of any loan shall be in violation of such provisions, or shall otherwise be in violation of

The amount of early repayment was paid to the same investor as the Plaintiff, and otherwise, the said amount was repaid.

If not received, the amount exceeding 10 billion won out of the principal and interest of the Fund No. 7 of this case shall be recovered.

There is no evidence to prove that the plaintiffs could have been able to do so, which eventually leads to no evidence to the plaintiffs.

The Fund No. 6 of this case cannot be deemed to have suffered losses, and the Fund shall receive dividends and principal in lump sum at maturity.

that the principal or dividends have not been scheduled from the beginning of the maturity of the year in the form, as seen earlier.

As such, the Defendant’s above KRW 10 billion on August 6, 2007, which was prior to maturity of each of the instant funds, shall be subject to the foregoing KRW 10 billion.

The sole ground that only 7 No. 7 Fund paid principal or dividends to the Defendant is in operation

It is difficult to deem that there was negligence. Also, in the Fund Operation Plan (No. 2-1) of this case No. 6

amount of sales income equivalent to or less than 48 per cent of the sale rate shall be used only as financial resources for the repayment of loans.

The facts stated above are as follows, and the defendant reaches the above sale rate on August 6, 2007.

Prior to the sale revenue of 24.2 billion won, however, the defendant is the exclusive use of the proceeds.

Corporation shall pay the money to the Corporation as design expenses, supervision expenses, sales fees, taxes and public charges related to the development project of this case

The Eul submitted No. 26 No. 26, asserting that it was used. The health class, the above management plan

In addition, it is difficult to readily conclude whether the defendant has a legal binding force on each of the instant cases.

The shopping in this case, as alleged in the ground of appeal, is contrary to the duty to protect investors at the time of establishment of the fund.

The development project of this case is aggravated due to the difficulties in the completion of the center and the aggravation of the site.

If it is inevitably used the above 24.2 billion won, the funds for the promotion of the above project.

It is difficult to conclude that damage has occurred to the plaintiffs due to diversion, and the plaintiffs

In addition, it is unclear what is the "project cost of a commercial building" claimed by the plaintiffs, as well as that of the plaintiffs.

The evidence alone asserted that the defendant used the above KRW 24.2 billion as the commercial project cost.

The plaintiffs' assertion in this part is insufficient to recognize that there is no other evidence to acknowledge it.

for the purposes of this section.

C) As to the assertion on the violation of fiduciary duty on the non-claim of insurance proceeds, the enforcement of security, etc.

Judgment

Article 7-2 of the Loan Agreement of this case is that the repayment plan for loans from dump construction, which is an executor, is that of the defendant.

In case of failing to pass the deliberation, the defendant shall sell at a discount or discount the business site and the unsold commercial building.

Lease, voluntary sale, public sale, and other disposal, and in the case of discount sale, ten months prior to the loan maturity;

up to six months from the date of the first sale price at 40% discount in consultation with the contractor, 6

The discount from 60% of the initial selling price to 10% per month after the end of the month shall be obtained by deducting 60% from the first selling price.

It is recognized that the sale should be limited to only one amount.

However, a disposition by means of a discount sale as set forth in paragraphs 4 and 5 of Article 7-2 shall be in the language and text of the disposition

by means of various disposals according to the defendant's reasonable judgment, not the defendant's obligations.

(2) the sale or lease of the shopping center of this case;

Various for collecting the principal and interest of the instant case through lease, discount, sale in lots, etc. of unsold commercial buildings;

(No. 10 to 24), and (3) The discount rate set forth in the above provision.

to sell at discount according to this case’s principal and interest of this case’s ultimately favorable to recovering the principal and interest of this case.

In light of the fact that there is no data to regard it as law, the defendant's discount rate set forth in the above provision shall apply.

D. The sole reason that the principal and interest of this case were not sold at discount is that the principle of care to collect the principal and interest of this case.

It is difficult to view that there was an error that did not perform the duty.

Meanwhile, according to the statements Nos. 5 and 6 Eul, the insurance title 1 in the instant insurance contract

(2) The insurance company's consent to the method of selling insurance objects.

can be recognized as constituting a cause for the payment of insurance proceeds, which satisfies the requirements of completion of sale.

F. 40% discount from the initial sale price during the period from 10 months to 6 months prior to the expiration of the loan period

at least 60% of the initial selling price for each month after the discount to the extent of

Where a disposition for public auction is taken on the basis of the price deducted by 10%, consent of the insurance company is required.

The facts that were not mentioned above are as follows.

However, in the absence of such requirements for payment of insurance proceeds, insurance is naturally insured.

No claim was filed, and the shopping center of this case does not complete the construction of the shopping center of this case.

under circumstances that do not meet the requirements of class, discount, sale in lots or public sale in respect of unsold parts

Insurance proceeds under the insurance contract of this case still are paid even if the insurance proceeds are disposed of by method

In light of the fact that it appears difficult for the Defendant to meet the requirements of this case, the Defendant’s insurance proceeds of this case

public offering pursuant to the discount rate set forth in the above insurance contract to meet the requirements for payment

It can not be viewed as a negligence in the operation because it was not a disposition.

C. Sub-committee

Therefore, the Defendant is obligated to complete the responsibility for the construction of the time when the loan agreement of this case was entered into.

In order to protect the investment funds of the plaintiffs, this case was agreed to escape.

agreement, even though it entered into an agreement that does not guarantee a sufficient risk; and

The duty to complete the responsibility of ○○ Construction through the instant operational plan, investment prospectus, etc., and the instant insurance contract

investment objects or their risks to the plaintiffs by emphasizing only the avoidance of investment risks through the pledge;

The plaintiffs, who are investors, have made an indication to mislead them. Accordingly, the plaintiffs, who are investors, have made such indication.

to create accurate awareness of the risks or investment in connection with a transaction;

Since it is reasonable to see that the defendant has caused the above protection of investors against the plaintiffs.

There is a responsibility to compensate for damages caused by breach of duty.

3. Scope of liability;

A. The parties’ assertion

Plaintiffs (1) The damages in proximate causal relation with the Defendant’s breach of its duty to protect investors

Note 8, each of the appraisal values of each of the funds of this case as of the due date of each of the funds of this case

(2) In the case of the Fund No. 7 of this case, the Fund shall be repaid with part of the principal before maturity; and

The plaintiffs received dividends in the manner of redemption of principal, but they received money as principal payment.

(2) In the case of the distribution of profits, the amount of profit

as it reflects the standard price of beneficiary certificates in the assessed amount, the public in calculating the amount of damages.

(3) The term of each of the funds of this case, even if any, shall not be

The amount equivalent to the annual damages shall be first appropriated from the amount equivalent to the damages for delay pursuant to the legal principle of appropriation.

The defendant asserts to the purport that the defendant is responsible for the construction of the trial corporation ○○ Construction

If there is negligence in breach of the duty to protect investors related to public notice, the damage in proximate causal relation

(2) The principal and profit distribution amount already repaid shall be deemed as expenses required for the completion of liability.

(3) A sufficient limitation of liability shall be written in light of all the circumstances.

I asserts to the effect that it is necessary.

(b) Damages;

Property damage caused by an illegal harmful act is caused by an illegal harmful act;

(1) The financial status of the property that would have existed without the violation and the ever caused the violation;

as a difference in the financial status of the property at home, active damages and losses in which existing interests are lost and may be incurred in a future.

includes passive damages that may not obtain profit, and such damage is practically caused.

Whether or not it is reasonable in light of social norms (Supreme Court Decision 23 June 23, 1992)

The Supreme Court en banc Decision 91Da33070 Decided August 25, 1998 (see, e.g., Supreme Court Decision 97Da4760, Aug. 25, 1998).

In light of the above legal principles, the Health Board and the Asset Management Company’s duty to protect investors in this case

any loss suffered by investors shall not be recovered by joining the fund; and

It is reasonable to see that the sum of the lost earnings that could not be gained for the future is the sum of those that could not be obtained (Supreme Court Decision 2011.

7. The Plaintiffs due to their violation of the Defendant’s duty to protect investors (see Supreme Court Decision 2010Da76368, May 28, 201).

The amount of such loss may not be recovered by joining each of the funds of this case (such investment)

[Attachment Form 1] The amount of money stated in the column of “investment” and the amount of actual profit that did not receive any benefit that could have been received in the future.

In addition, each of the funds of this case is prohibited from being refunded even after maturity of three years, and the plaintiff

Considering the circumstances that most of them are community credit cooperatives, the Plaintiffs, the investors of this case, are different;

Unless there are special circumstances, each of the funds of this case even though there was no violation of the defendant's duty to protect investors.

a stable financial product, the principal of which shall be at least the interest on fixed deposits and the interest rate equivalent thereto shall be guaranteed;

The plaintiffs seems to have invested at least in the invested principal due to the defendant's violation.

Special damage which loses the expected profit equivalent to the interest on time deposits whose interest rate of 5% per annum is guaranteed;

It is reasonable to deem that the victim was suffered, and in light of the facts and overall circumstances acknowledged earlier, the victim was incurred.

As such, it seems that such circumstances were or could have been known.

On the other hand, investors' investment decisions due to breach of duty to protect investors are in principle beneficiary certificates.

under the premise that it has been held until maturity. However, prior to maturity for investors

The right of choice to redeem securities is only granted, and in the case of the Fund No. 7 of this case,

up to the maturity date as a structure in which quarterly final revenue is paid and the base price is changed;

It is difficult to estimate in advance the amount recoverable, due to the illegal act of the asset management company.

Investor’s loss shall be the time of maturity or the time of actual redemption by the Investor;

As a result, (see Supreme Court Decision 2010Da101752 decided July 28, 201). Such damages are the same.

(1) The amount of redemption received by the plaintiffs and the amount of final settlement revenue received by the plaintiffs before actual and conclusive accruals occur.

The issue of satisfaction of payment is merely an element of calculating the amount of damages of the investor of this case.

Therefore, this part of the plaintiffs' assertion is without merit.

C. Limitation on liability

Meanwhile, in accordance with the principle of self-responsibility, the Plaintiffs are trust products that are conceptualized or invested in the investment trust.

He/she shall carefully review the details, the structure of profit and loss, the investment risk, etc. and make a decision on investment after making the investment.

It appears that it has contributed to the expansion of damages by neglecting it;

In particular, the Plaintiffs, who invested in the Fund No. 7 of this case, already acquired considerable amount of fund revenues, and the Plaintiff

The fundamental reason why the damage was caused to the defendant is, in addition to the defendant's false description, a sudden real estate competition.

The 6th of this case’s fund is a private model fund, etc. that has economic grounds such as aggravation of the company’s identity.

Taking into account all the circumstances, the Plaintiffs’ negligence is to be considered in calculating the amount of damages.

To limit intentional liability to 80%.

D. Sub-committee

The damages suffered by the plaintiffs due to the defendant's tort are the column of "investment" in the attached Form of this case.

each of the funds of this case from each of the dates stated in the "Creation Date" for each of the funds of this case

Amount of redemption received or profit distribution from the aggregate amount of lost damage at the rate of 5% per annum until the date of

80% of the deducted amount shall be the amount limited to 80%, and the amount shall be "attached Form of this case".

The term "gold" shall be each of the money stated in this section.

Therefore, the defendant shall pay to the plaintiffs each of the above money and each of the above money in the "attached Form 2" column.

As to the existence or violation of the obligation from November 12, 2008, the day following the maturity date of each of the instant funds

Until October 26, 2012, no later than the date this judgment is rendered, where it is deemed reasonable to dispute over the above-mentioned matters.

5% per annum which is the statutory interest rate equivalent to the periodical deposit interest rate, or the statutory interest rate under the Civil Act, from the following day:

(c) The delay by 20% per annum under the Act on Special Cases concerning the Promotion, etc. of Legal Proceedings until the date of full payment.

The person is liable to pay damages.

4. Conclusion

Thus, the plaintiffs' claims are justified within the scope of each of the above recognition, and each of them is accepted, respectively.

(s) The claim shall be dismissed for lack of good cause.