The provisions of Article 5-2 of the Act on Special Measures for Loans in Arrears by Financial Institutions are not unconstitutional.

The provisions of this Article shall not be deemed to be in violation of Article 9 (1) of the former Constitution (amended by Act No. 62. 26, Dec. 26, 622).

Article 5-2 of the Act on Special Measures for Loans in Arrears by Financial Institutions

Re-appellant

Seoul High Court Decision 70Ra116 delivered on May 18, 1970, the Seoul High Court Decision 70Ra116 delivered on May 18, 1970

The reappeal is dismissed.

The grounds for reappeal are examined.

However, Article 5-2 of the Act on Special Measures for Loans in Arrears of Financial Institutions provides that a person who intends to file an appeal against the decision of permission of a successful bid shall deposit cash or securities equivalent to 3/10 of the successful bid price as security in an auction procedure for loans in arrears with respect to a financial institution shall deposit the cash or securities equivalent to 3/10 of the successful bid price in order to fully fulfill the special mission and responsibility of the financial institution. This does not constitute a violation of Article 9(1) of the Constitution, and the provision of this Act does not violate Article 9(1) of the Constitution, and the appeal of this case is received by the court below on February 9, 1970 (see, e.g., Chapter 159).

Therefore, the reappeal is dismissed without merit. It is so decided as per Disposition by the assent of all participating Justices on the bench.

The judge of the Supreme Court of the Republic of Korea (Presiding Judge) Mag-Jak Kim Jong-young Kim Young-ho