The judgment below is reversed and the case is remanded to Seoul High Court.

The grounds of appeal are examined.

1. Regarding ground of appeal No. 1

A. In the case of bilateral contract not performed by both parties, the contract under Article 103 (1) of the former Company Reorganization Act (repealed by Article 2 of the Addenda to the Debtor Rehabilitation and Bankruptcy Act, Act No. 7428 of March 31, 2005, the "Company Reorganization Act" hereinafter) which grants an option to perform or cancel the contract to the administrator is a contract for which both parties are liable for an obligation having equal consideration relations between each other. The contract is originally a legally and economically binding relationship between both parties, which functions as a security in the existing performance of both parties' obligations, and the application of the above provisions must not be performed in whole or in part of the contractual obligations with equal consideration relations.

Article 208 Subparag. 7 of the Company Reorganization Act provides for a claim held by the other party as a public-interest claim in the event that an administrator performs his/her obligation pursuant to Article 103(1) of the Company Reorganization Act provides for a claim held by the other party as a public-interest claim in the event that the custodian intends to claim the other party’s performance, it means that the defect of maintaining equity between the

(see, e.g., Supreme Court Decision 2013Da16305, Sept. 26, 2013). Meanwhile, the reorganization plan is effective for the company, all reorganization creditors, security holders, and stockholders, etc., and is also effective for them (Article 240 of the Company Reorganization Act), and the company is exempted from its liability for all reorganization claims and securities, except for the rights recognized under the provisions of the plan or the provisions of the Company Reorganization Act, and all security rights in the company’s property, other than those in the company’s

(Article 241 of the Company Reorganization Act). With respect to a corporation which faces distress due to its contents and financial deficiencies, but has economic value of rehabilitation, the interests of creditors, shareholders and other interested persons shall be understood.