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1. The plaintiff's claims against the defendants are all dismissed.
2. The costs of lawsuit shall be borne by the Plaintiff.
Reasons
1. The Plaintiff, on December 16, 2003, lent a loan of KRW 200 million to Defendant A Co., Ltd. (hereinafter “Defendant Company”) at a rate of 18% per annum on the pretext of a company-run loan (hereinafter “instant loan”). Defendant B guaranteed the above loan obligations within the limit of KRW 260 million. However, there is no dispute between the parties that the loan balance up to December 11, 2014, which is the base date for the calculation of convenience due to the Defendant Company’s failure to repay the above loan, is KRW 269,797,259, total sum of KRW 369,109,626, which is 598,109,626.
According to the above facts, barring any special circumstance, the defendants jointly and severally pay to the plaintiff 598,109,626 won of the above principal and interest, and 200 million won of the principal, the damages for delay calculated at the rate of 18% per annum pursuant to the agreement from December 12, 2014 to the date of complete payment, which is the day following the above calculation base date, to the day of full payment. Defendant B is liable to pay within the limit of 260 million won, which is the guarantee limit amount.
2. Determination as to the defendants' defense
A. The defendant company asserted the defendants' assertion that the commencement of composition of the defendant company was decided by the Daegu District Court 2004 9 on January 11, 2005, and the approval of composition was decided on May 21, 2005. Accordingly, since the defendant company decided to pay the full amount of the composition claim which was partially exempted until August 31, 2005, the extinctive prescription of the above composition claim has expired five years after the lapse of the above five years (commercial claim).
Defendant B, on January 11, 2005, the Daegu District Court 2004Hu23 decided to commence composition with respect to the Defendant, and the decision to cancel composition was rendered on January 18, 2006, and accordingly, Defendant B claimed that the extinctive prescription of the joint and several several surety claim of this case was completed upon lapse of five years (commercial claim) from the date of the decision to cancel composition.
B. Determination is made prior to the repeal by Act No. 7428 of March 31, 2005, hereinafter referred to as the “former Composition Act”).