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All appeals are dismissed.
The costs of appeal are assessed against the Plaintiff’s Intervenor, Inc. and the Plaintiff’s Intervenor.
Reasons
The grounds of appeal are examined.
1. According to the reasoning of the judgment below as to the ground of appeal No. 1, the Defendant, a major shareholder of B (hereinafter “B”), made a statement and guarantee of the matters stated in Appendix 8 “statement and guarantee” according to Article 6 of the Investment Contract, and agreed to compensate for the damages suffered by the Plaintiffs in a case where the statement and guarantee are false or inaccurate. The Defendant’s statement and guarantee stated in the financial statements as of December 31, 2007, KRW 3,968,40,963 of the credit card outstanding amount stated in the financial statements as of December 31, 2007, included KRW 2,643,48,610, which actually impossible to recover due to the Defendant’s negligence in the procedures for securing the outstanding amount, such as a request for purchase or re-purchase against credit card companies, and thus, the Defendant is liable to compensate for damages suffered by the Plaintiffs due to such a statement and guarantee, the lower court rejected the Defendant’s assertion that the due date for purchase of credit card bonds can be extinguished, as stated in its reasoning.
In light of the relevant legal principles and records, the above determination by the court below is just, and contrary to the allegations in the grounds of appeal, there were no errors by misapprehending the legal principles regarding statements and guarantees, or by exceeding the bounds of the free evaluation of evidence.
2. On the ground of appeal No. 2, according to the reasoning of the judgment below, in the event that the amount of damages caused by the violation of the statement and guarantee under Article 8(2) of the Investment Contract does not reach KRW 750 million, the seller is not liable for damages. However, since the amount of damages claimed by the Plaintiffs is less than KRW 750,000,000,000,000,000,000 won, the court below is liable for