1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1..

1. Facts of recognition;

A. The Plaintiff’s claim for a penalty against C was filed against D and C on September 5, 2011 on the ground that D violated the agreement related to the operation of entertainment tavern, which was concluded on March 16, 2009. The Seoul High Court (Seoul High Court Decision 2012Na59147) rendered a judgment that D and C jointly pay the Plaintiff 40 million won and its amount to 5% per annum from September 15, 2011 to January 17, 2013, and 20% per annum from the next day to the date of full payment (hereinafter “instant penalty”). The Seoul High Court rendered a judgment that the Plaintiff would jointly pay the Plaintiff 40 million won and its amount to 5% per annum from September 15, 2011 to January 17, 2013, which became final and conclusive as is (hereinafter “instant penalty”).

(2) On March 2013, D’s lawsuit against the Plaintiff filed a lawsuit claiming a share purchase-price investment profit against the Plaintiff.

On April 30, 2014, the High Government District Court (2013Gahap2665) sentenced D to the payment of the amount of KRW 290 million and the amount calculated by the rate of 5% per annum from August 13, 2013 to April 30, 2014, and 20% per annum from the next day to the date of full payment. The judgment became final and conclusive on March 12, 2015.

(3) D and C filed a lawsuit seeking the exclusion of compulsory execution by the instant penalty judgment with the Seoul Northern District Court (2014Gahap22738) (hereinafter “instant contract amount judgment”). D et al. filed a lawsuit seeking the exemption of compulsory execution by the instant contract amount and set-off based on the amount quoted in the instant contract amount judgment (i.e., set-off on September 27, 2010), following which D and C filed a lawsuit with the Seoul Northern Northern District Court (2014Gahap22738). D et al.’s judgment became final and conclusive on April 29, 2015 to the effect that “106,349,409 won and its related claims based on the instant contract amount were calculated at the rate of 5% per annum from October 5, 2012 to January 17, 2013 and 20% per annum from the following day to the date of full payment, which became final and conclusive as it is.

B. C’s act of disposal of property is prior to the pronouncement of the judgment of the first instance court on June 27, 2012 on the instant penalty case, and the said lawsuit.