Plaintiff

Defendant 1 and 6 (Law Firm Shin, Attorneys Kim-type et al., Counsel for the defendant-appellant)

July 6, 2007

1. The plaintiff's claims against the defendants are all dismissed.

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

Of the dividend table prepared by the above court on January 24, 2007 with respect to the auction of real estate (No. 28088), the amount of dividends to Defendant 1, 150,000,000,000 won, the amount of dividends to Defendant 1, the amount of dividends to Defendant 1, the amount of dividends of KRW 14,16,760 to Defendant 1, the amount of dividends of KRW 65,467,62 to Defendant 1 Bank, the amount of dividends to Defendant National Agricultural Cooperative Federation, the amount of dividends of KRW 61,616,757, the amount of dividends to Defendant Korea Credit Guarantee Fund, the amount of dividends of KRW 15,769,358, the amount of dividends to Defendant 1, the amount of dividends of KRW 33,259,01, the amount of dividends to Defendant 7, the amount of dividends of KRW 3,827,264 to Defendant 47,275,275.

1. The contents of the distribution schedule prepared by the court;

On January 24, 2007, 2007, in the case of the auction of real estate (No. 28088) in order to establish a distribution schedule in attached Form 200.

2. The plaintiff's summary of the claim: In the case of joint mortgages, the misapprehension of the legal principles as to dividends on property pledged.

The debtor in the above real estate auction case is the non-party 1, and the real estate listed in paragraphs 1 and 3 among each real estate listed in the annexed list, which is the object of auction, was owned by the plaintiff. The real estate listed in paragraphs 2 and 4 was owned by the non-party 1. In the case where the subordinated mortgage, which differs from the creditor in the real estate owned by the debtor and the real estate owned by the real estate owned by the non-party 1, is established, when an auction is held on the real estate owned by the property owned by the property pledged by the property pledged, and the mortgagee has been repaid once by the delivery of the auction proceeds, the property pledged to the debtor shall acquire the right to indemnity against the debtor, while the property pledged to the non-party 2 by subrogation under Articles 481 and 482 of the Civil Act, the above court shall, at the time of the preparation of the distribution schedule, pay the amount of money 345,920,840 won subrogated to the non-party 2 as the defendant's claim should be revised.

3. Judgment: The plaintiff's assertion cannot be accepted.

As asserted by the plaintiff, acquiring one mortgage on real estate owned by the person who has pledged to secure another's property in accordance with the legal principles of subrogation is limited to the case where an auction is made for the real estate owned by the person who has pledged to secure another's property and the real estate owned by the person who has pledged to secure another's property first among the real estate owned by the person who has pledged to secure another's property, and in the case where several real estate are sold at the same time as in this case, the person who has pledged to secure another's property does not have the right to indemnity against the debtor, and therefore there is no room to apply the legal principles of subrogation under the provisions of Articles 481 and 482 of Civil Act.

Therefore, in this case, according to Article 368(1) of the Civil Code, it is sufficient to distribute dividends to each creditor in proportion to the auction cost of each real estate.

[Attachment List, Distribution Schedule, and Indication of Real Estate]

Judges Man-Un (Presiding Judge)