All appeals are dismissed.

The costs of appeal are assessed against the Plaintiff.

The grounds of appeal are examined.

1. As to the ground of appeal No. 1, on the ground as indicated in its reasoning, the lower court determined that the Defendants designated as the first priority beneficiary under the instant trust agreement concluded between the Plaintiff and the truster, who were designated as the first priority beneficiary, were not the first priority beneficiary after the conclusion of the instant trust agreement, and thus, were exempted from the obligation to reimburse the Plaintiff’s expenses, on the premise that, in the event of another interest trust where the beneficiary, other than the truster, was designated as the beneficiary and reverted to the beneficiary first priority, the beneficiary renounced the beneficiary’s right to benefit pursuant to Article 51(3) of the former Trust Act (amended by Act No. 10924, Jul. 25, 2011).

The judgment below

Examining the reasoning in light of the relevant legal principles and evidence duly admitted, the lower court did not err by misapprehending the legal doctrine on the retroactive effect of the waiver of the right to benefit, contrary to what is alleged in the grounds of

2. As to the ground of appeal No. 2, the lower court determined that Article 15 of the instant trust agreement to the effect that the Defendants jointly and severally bear expenses with the Nonparty Company did not be construed as an agreement that excluded the Defendants from the waiver of the Defendants’ right to benefit, or that the Defendants are obliged to pay expenses to the Plaintiff even if they deviate from the status of the priority beneficiary due

The judgment below

Examining the reasoning in light of the relevant legal doctrine and the evidence duly admitted, the lower court did not err by misapprehending the legal doctrine on the interpretation of a disposition document, contrary to what is alleged in the grounds of

3. Therefore, all appeals are dismissed, and the costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices.