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The appeal is dismissed.
The costs of appeal are assessed against the Plaintiff.
Reasons
The grounds of appeal are examined.
1. As to the allegation as to whether the termination of the instant loan agreement is legitimate
A. As to the assertion of violation of Article 56(1) of the Debtor Rehabilitation and Bankruptcy Act (hereinafter “ Debtor Rehabilitation Act”), the lower court determined that even if there was an error in the expression indicated by the addressee of the notice of termination of the instant loan agreement as “Plaintiff”, rather than “the Plaintiff’s custodianO,” it cannot be deemed as a defect to the extent that the instant disposition was unlawful.
Examining the reasoning of the lower judgment in light of the relevant legal principles and records, the lower court’s determination that the notice of termination of the instant loan agreement was valid is acceptable. In so doing, contrary to what is alleged in the grounds of appeal, the lower court did not err by misapprehending the legal doctrine on Article 56(
B. As to the claim limiting the exercise of the right to terminate a bilateral contract under Article 119(1) of the Debtor Rehabilitation Act, the lower court determined that the instant bilateral contract can be terminated even after the commencement of the rehabilitation procedure against the Plaintiff, since the debtor and the other party have the right to claim the rescission or termination of the contract when the debtor and the other party have not yet completed the performance of the contract at the time the rehabilitation procedure commenced, the other party is unable to arbitrarily perform the contract until the custodian selects the performance of the contract or is deemed to have waived the right to cancel the contract; even if the custodian fails to perform his/her obligation, it cannot be deemed that the other party is not able to exercise the right to cancel on the ground of the non-performance of obligation; however, the other party is unable to exercise the right to cancel on the ground of the non-performance of obligation;
The judgment below
The relevant legal principles and reasons.