1. Revocation of a judgment of the first instance;

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. The reasoning for the court’s explanation of this part of the underlying facts is the same as that for the judgment of the court of first instance, and thus, they are cited in accordance with the main sentence of Article 420 of

2. The plaintiff asserts that since each of the instant mortgages is a security right invalidated by the former Composition Act and the former Bankruptcy Act, the amount distributed to the defendant among the sales proceeds of the instant apartment should be distributed to the plaintiff.

The defendant asserts that ① the plaintiff's argument that each of the above collateral security established under the former Housing Construction Promotion Act and the Enforcement Decree thereof is invalid is against the principle of good faith, and ② the right to collateral security established on the site of the apartment of this case is valid even if each of the above collateral security becomes invalid under the former Housing Construction Promotion Act and the former Enforcement Decree, so the defendant should be paid preferentially

3. Determination as to the cause of claim, etc.

A. According to Articles 69(2), 9, and 71 of the former Composition Act (repealed by Article 2 of the Addenda to the Debtor Rehabilitation and Bankruptcy Act, Act No. 7428 of March 31, 2005; hereinafter the same), Article 313 of the former Composition Act (repealed by Article 2 of the Addenda to the Debtor Rehabilitation and Bankruptcy Act, Act No. 7428 of March 31, 2005; hereinafter the same shall apply), where the composition is revoked and the bankruptcy proceedings are in progress, Article 313 of the former Composition Act shall apply mutatis mutandis. Article 313 of the former Composition Act provides that “The offer of a security by the bankrupt after the termination of the bankruptcy to the creditor who is subject to compulsory composition shall lose its effect due to the revocation of the compulsory composition.”

According to the above provisions, the debtor's security acquired by composition creditor after the decision of approval of composition becomes final and conclusive shall lose its effect by the cancellation of composition.

Article 71 of the former Composition Act and Article 313 of the former Composition Act provide that a debtor's security acquired by a composition creditor after the completion of composition procedures shall lose its effect by cancellation of composition becomes final and conclusive.