In order for a person who has acquired the shares before the issuance of share certificates to claim a dividend for the company, a transfer of holders shall be completed.

In order for a person who has acquired shares before issuance of share certificates to claim dividends from the company as part of the exercise of shareholders' rights, he/she shall complete a transfer of holders pursuant to Article 337 (1) of the Commercial Act.

Article 337 of the Commercial Act

2015da 576271 Action to confirm the claim for payment of deposit money

○○ Construction and 6 others

Republic of Korea 2 others

July 20, 2016

August 24, 2016

1. All of the plaintiffs' claims are dismissed.

2. The costs of lawsuit are assessed against the plaintiffs.

Cheong-gu Office

With respect to KRW 126,90,00,00 which was deposited by ○○ District Court on May 2, 2013 by 3256, and KRW 253,80,000 deposited by ○○ District Court on April 8, 2014; KRW 253,80,000,000 deposited by ○○ District Court on April 9, 2015; KRW 296,10,000 deposited by ○○ District Court on 2778, 2015; KRW ○○ District Court on April 5, 2016; and KRW 803,70,000,000 deposited by ○○ District Court on 3218, 2016.

1. Basic facts

A. On July 29, 2009, the Bankrupt Savings Bank Co., Ltd., BB Savings Bank Co., Ltd., the Bankrupt Savings Bank Co., Ltd., the BankruptD Savings Bank Co., Ltd., and the ○○ Securities Co., Ltd. (hereinafter referred to as the “Plaintiffs”) concluded a stock transfer agreement with DefendantG on July 29, 2009 with respect to 15,000 shares owned by Defendant GG Co., Ltd. (hereinafter referred to as the “○○○”) as security, by lending KRW 35 billion to the ○○○○ Partnership Co., Ltd., the representative director., Ltd. (hereinafter referred to as the “instant shares”).

B. On November 30, 2010, 000, 000, 000, 000 shares were transferred for transfer by means of a certificate with a fixed date.

C. Meanwhile, Defendant ○○○ Co., Ltd. (hereinafter “○○○”) and Defendant Republic of Korea seized and seized the above shares as follows:

D. Pursuant to the latter part of Article 487 of the Civil Act and Article 248(1) of the Civil Execution Act, the deposited person was the Plaintiffs or the Defendant GG, and the deposited person deposited dividends at least four times as follows (hereinafter “each of the instant deposits”).

[Reasons for Recognition]

· Defendant Lee GG: Confession (Article 150(3) and (1) of the Civil Procedure Act)

- Defendant ○○, Korea: The absence of dispute, A’s No. 1 through 5 (including the number of branch offices), the entry of Eul’s evidence No. 2, and the purport of the whole pleadings.

2. Summary of the plaintiffs' assertion

The Plaintiffs received the instant shares prior to the issuance of share certificates in accordance with the method of transferring nominative claims. The Plaintiffs obtained the consent from ○○○○’s provisional attachment ruling and each service of Defendant’s provisional attachment ruling by Defendant Republic of Korea prior to the issuance of each of the instant shares. As such, the Plaintiffs are in a legitimate position as a shareholder in relation to the Defendants, and the transfer of holders is merely merely a requisite for setting up against the Defendants, regardless of whether the transfer

3. Determination

A. Relevant legal principles

Article 336(1) of the Commercial Act provides that “The transfer of shares is based on the delivery of share certificates,” and Article 337(1) of the same Act provides that “If a person acquiring shares fails to enter his/her name and address in the register of shareholders, he/she shall not oppose the transfer of shares to the company,” thereby separately prescribing requirements for setting up against the transfer of shares against the company. Therefore, the transferee of shares who intends to exercise his/her voting right, right to demand dividend, etc. against the company shall ensure that his/her name and address in the register of shareholders are entered in the register of shareholders

Meanwhile, the issuance of share certificates is impossible to transfer rights by the method prescribed in Article 336(1) of the Commercial Act, which means the issuance of share certificates. In such cases (limited to cases where six months have elapsed since the date of incorporation pursuant to Article 335(3) of the Commercial Act), the validity takes effect by declaring the intention of the parties in accordance with the general principle of the transfer of nominative claim (see Supreme Court Decision 2012Da38780, Nov. 29, 2012). However, this is merely an exception to Article 336(1) of the Commercial Act, which stipulates the method of transferring share certificates, and cannot be deemed to be the purport of excluding the application of Article 337(1) of the Commercial Act. Therefore, even a person who acquired share certificates prior to the issuance of share certificates pursuant to the legal principle of the transfer of nominative claim shall complete a transfer of rights pursuant to Article 337(

B. Determination of the instant case

The fact that the Plaintiffs entered into a share transfer agreement with Defendant Lee Jae-G is as seen earlier. However, in full view of the purport of the entry and the entire pleadings in subparagraph 1, the Plaintiffs did not complete the transfer of ownership even after the acquisition of the said transfer of security, and the register of shareholders of ○ Su-sik was recognized as having been entered in the register of shareholders of this case.

If so, according to the above-mentioned legal principle, the shares of this case can be attributed to the plaintiffs and the remaining defendants with respect to the attribution of such shares, in agreement between the plaintiffs and the defendant Lee GG, but the plaintiffs cannot claim dividends on the basis of the shares of this case in relation to ○○ Ho as they fail to meet the requisite for counterclaim under Article 337(1) of the Commercial Act. Accordingly, the claim of this case on the premise that the claim of this case based on the shares of this case belongs to the plaintiffs cannot be accepted.

In addition, in light of the purport of Article 337(1) of the Commercial Act and the need to uniformly deal with the legal relations among the interested parties, such conclusion does not change because it has been paying dividends to the account in the name of the Defendant ○○ Securities Company designated by the Plaintiff ○○ Securities Company prior to each of the instant deposits.

4. Conclusion

Therefore, the plaintiffs' claims against the defendants are dismissed since all of them are without merit.

The decision is made as shown in the Disposition.