1. The instant lawsuit shall be dismissed.

2. The costs of lawsuit shall be borne by the Plaintiff.

Basic Facts

On October 17, 2017, the Plaintiff entered into a credit guarantee agreement with the Defendant setting the credit guarantee principal to KRW 28,500,000, and the credit guarantee period to October 20, 202, when the Defendant obtained a loan from a stock company B (hereinafter referred to as “foreign bank”). The Defendant obtained a loan of KRW 30,000,000 from the Nonparty bank as collateral.

Since then, the Defendant has caused a credit guarantee accident to lose the benefit of the repayment deadline for the loan to the non-party bank. On March 21, 2019, the Plaintiff repaid the principal and interest of the loan to the non-party bank amounting to KRW 28,929,475, and on February 1, 2018, the rate of delay damages determined by the Plaintiff is ten percent per annum.

On September 16, 2019, when the lawsuit of this case is pending, the Defendant was decided to commence individual rehabilitation procedures (the Government District Court Decision 2019Da2024555). The Plaintiff also included the Plaintiff’s claim for indemnity in the rehabilitation claim list. The Plaintiff did not raise an objection to the existence or content of the claim for indemnity of this case until November 15, 2019, which is the expiration date of the objection period within the said individual rehabilitation procedures (hereinafter “individual rehabilitation procedures”).

The defendant was decided to discontinue the individual rehabilitation procedure on March 29, 2020 in the individual rehabilitation procedure of this case, but the appeal is currently in progress.

[Ground of recognition] We examine the absence of dispute between the parties, Gap evidence Nos. 1 through 10, 13 through 14, and the purport of the whole pleadings ex officio as to the plaintiff's legal action against the defendant.

Article 603 of the Debtor Rehabilitation and Bankruptcy Act (hereinafter “Rehabilitation Act”) shall apply to a creditor who has entered in the list of individual rehabilitation creditors, fails to file an application for a final judgment on a final judgment on an individual rehabilitation claim within the objection period against the individual rehabilitation claim, or an application for a final judgment on a final judgment on an individual rehabilitation claim is rejected, if the claim is confirmed as stated in the list of individual rehabilitation creditors (