the transfer of real property to a third party with knowledge that the excess of liabilities would be deepened by the transfer of such property

Since the transfer of the real estate in this case deepens the debt excess status by transferring it, it constitutes fraudulent act subject to the creditor's right of revocation, and it was known that the transfer of the real estate in this case would prejudice the plaintiff as the creditor by reducing the creditor's joint security, and the bad faith of the beneficiary and the subsequent purchaser is presumed.

2012Du200116 Revocation of Fraudulent Act

Korea

ParkA et al.

September 19, 2012

September 26, 2012

1. The sales contract concluded on July 13, 2009 with respect to the attached real estate indicated in the separate sheet between Defendant ParkA and KimB shall be revoked.

2.With respect to attached real estate to KimB, and

A. Defendant Park Jong-A’s registration procedure for cancellation of ownership transfer registration completed under No. 56827 of the receipt on July 14, 2009, for Suwon District Court Suwon District Court Branch Branch of Sung-nam Branch of Sung-won District Court.

B. Defendant KimCC, who completed the registration procedure for cancellation of ownership transfer claim under the receipt No. 23398 on April 26, 2010, filed with Suwon District Court, Suwon District Court, Sung-nam Branch of Branch of Branch of Branch of Branch of Branch of Branch of Branch of Branch of Branch of District Court,

3. The costs of lawsuit shall be borne by the Defendants.

The same shall apply to the order.

1. Indication of claim;

A. The Plaintiff has 13 tax claims against KimB, and the date when each tax claim comes into existence, the due date for payment, and the amount of claims as of January 2012 are as follows.

B. On July 13, 2009, KimB concluded a sales contract on the instant real estate with Defendant ParkB on the same day after completing the registration of ownership transfer in its name for the reason of sale by voluntary auction on the instant real estate indicated in the separate sheet (hereinafter “instant real estate”). On the same day, on July 14, 2009, the ownership registration in the instant real estate was completed in the future of Defendant ParkBA on July 14, 2009.

C. On April 26, 2010, as to the instant real estate, the provisional registration of the right to claim ownership transfer registration as stated in Section 2-B of the Disposition 2-B was completed in the future of Defendant KimCC, which was an infant of KimB on April 26,

D. At the time KimB sold the instant real property to Defendant ParkB, the real property of KimB was active in this case’s real property (or equivalent to KRW 000 at the market price) and the small property was KRW 000 in total of the national tax debt collection claims.

E. The Plaintiff’s taxation claim against KimB is the preserved claim of the obligee’s right of revocation, and the GimB deepens its obligation due to the transfer of the instant real estate, so the assignment of the instant real estate becomes the subject of the obligee’s right of revocation, and KimB, the obligor, knew that the transfer of the instant real estate would compromise the obligee’s joint security by reducing the obligee’s joint security due to the transfer of the instant real estate, and that the Defendant KimCC’s bad faith, the beneficiary, and the subsequent purchaser, is presumed.

F. Accordingly, the sales contract for the instant real estate concluded by the Defendant Park Jong-B with the KimB should be revoked as a fraudulent act, and its restoration to its original status, Defendant Park Jong-B, the debtor KimB, and Defendant Park Jong-B, the beneficiary, are obliged to perform the registration procedure for cancellation of ownership transfer, and Defendant KimCC, the subsequent purchaser, the above ownership is obliged to perform the registration procedure for cancellation of ownership transfer

2. Grounds;

(a) Defendant Park A: Judgment by public notice (Article 208(3)3 of the Civil Procedure Act);

(b) Defendant KimCC: Judgment on deemed confession (Article 208(3)2 of the Civil Procedure Act)