Busan District Court Decision 2012Gadan97051 (Law No. 14 August 2013)

If a creditor has received a full distribution of individual goods, he/she shall not be entitled to an additional distribution unless the joint security holder is a joint security holder.

Where several real estate are distributed at the same time, even if a comprehensive collateral security is established, a creditor who receives the total amount of dividends for an individual real estate shall not have the right to receive additional dividends for other goods, unless the joint collateral security holder

2013Na42547 Demurrer against distribution

AAAAA Limited Liability Company

1. Korea (Jurisdiction: BB Tax Office); 2. Busan Metropolitan CityCC;

Busan District Court Decision 2012Gadan97051 Decided August 14, 2013

December 12, 2013

January 16, 2014

1. The plaintiff's appeal is all dismissed.

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

The judgment of the court of first instance is revoked. Among the dividend table prepared by the court of first instance on November 15, 2012 with respect to the auction of real estate at Busan District Court Decision 201TTW 29245, the dividend amount OOOOOO on the defendant's Republic of Korea shall be corrected as OOO, OOOOOOO on the defendant Busan Busan Metropolitan CityCC, and OOOOOO on the plaintiff shall be corrected as OOO.

1. Quotation of judgment of the first instance;

The reasoning for this Court’s explanation is that the reasoning for this case is stated in the part of the judgment of the court of first instance, except for adding the following judgments as to the matters asserted by the plaintiff in the trial. Thus, this Court’s explanation is cited by the main sentence of Article 420 of

2. Additional matters to be determined;

The plaintiff asserts that each right to collateral security established on the building of this case is a comprehensive collateral security established on the part of the co-security for the existing loan. Thus, each right to collateral security established on the building of this case refers to a right to collateral security in the form of securing all claims acquired by the creditor against the debtor. Even if each right to collateral security is a comprehensive collateral security, the effect of each right to collateral security established on the building of this case cannot be extended to any other building regardless of the building. Thus, the plaintiff's above assertion on a different premise is without merit.

3. Conclusion

Therefore, the plaintiff's claim of this case is dismissed in its entirety due to the lack of grounds, and the judgment of the court of first instance is delivered.

The plaintiff's appeal is dismissed as it is reasonable to conclude this conclusion. Thus, the plaintiff's appeal is dismissed as it is without merit.