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1. The defendant's appeal is dismissed.
2. The costs of appeal shall be borne by the Defendant.
Purport of claim and appeal
1...
Reasons
1. Basic facts
A. Party status 1) The Plaintiff is a company established on June 18, 2005 for the purpose of developing and operating a club and a golf course in Korea and abroad. The Defendant is a company established in Vietnam to develop and sell a 25% (2,500 shares of the Plaintiff’s outstanding shares) with the Plaintiff’s position as the Plaintiff’s director from June 18, 2005 to June 18, 2008, and from October 6, 2009 to October 6, 2012. (2) E is a company established in order to conduct the business of developing and selling a golf course and a 179 degrees of “H (H; hereinafter “instant golf course”).
B. On October 11, 2006, E’s right to operate the instant golf course is obtained from the planning and investment department of the People’s Committee of Vietnam (hereinafter “NO of the instant golf course”): On October 11, 2006, Article 11 of E-registered Company’s name of the date when I permission for investment was granted: USD 6,600,000 for capital of the limited liability company: USD 50,000 for the Plaintiff Co., Ltd. (hereinafter “J”)’s investment of USD 2,40,000 for 7.58% on July 7, 2000 for 36.36% on 30,000,000 for the instant golf course business (hereinafter “K”)’s implementation of the instant golf course project.
Article 4 Investment :The expected implementation plan for the project of USD 22,00,000: Within 22 months from the date of issuance of the Investment Permit. The plan is completed within 22 months from the date of the first completion (18 holes golf course construction), within 36 months, within the term of 48 months, within the term of 48 months. (c) If the investor fails to collect investment funds for the implementation of the project, fails to comply with the provisions of the Investment Permit, or violates the provisions of the Investment Permit or other provisions of the Vietnam, the Vietnamese Government will grant the Investment Permit one year after the date of issuance of the Investment Permit.