Whether the interest rate prescribed in Article 3(1) of the Act on Special Cases concerning Expedition etc. of Legal Proceedings is applied to the calculation of damages due to delay of payment of the adjusted bonds (affirmative)

With respect to the interest on corporate bonds as stipulated in Article 10 of the Emergency Order on Economic Stabilization and Growth, which are adjusted under Article 19 (1) of the same Order, the interest limit provisions under Article 19 (2) shall apply, and the Interest Limitation Act shall not apply. However, in the issuance of a judgment ordering the performance of all or part of the liquidation bonds, it is reasonable to view that the compensation for the delayed performance of the obligation can be calculated in accordance with the interest rate under Article 3 (1) of the Special Act on the Promotion, etc. of Legal Proceedings, notwithstanding the interest rate provisions under Article 19 (2) of the Emergency Order.

Article 19 of the Emergency Order on Economic Stabilization and Growth, Article 3(1) of the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings

Supreme Court Decision 72Da2487 delivered on July 10, 1973

Plaintiff

Defendant

Busan District Court Decision 82Na280 delivered on June 11, 1982

The appeal is dismissed.

The costs of appeal are assessed against the defendant.

We examine the Defendant’s grounds of appeal.

1. The gist of the first ground for appeal is as follows:

The court below's decision that recognized the conciliation bond of this case by the plaintiff's assertion is erroneous in the incomplete hearing and violation of the rules of evidence, but it does not fall under any of the grounds provided in each subparagraph of Article 11 (1) of the Act on Special Cases concerning the Promotion,

2. The gist of the second ground for appeal is as follows:

According to Article 19(2) of the Emergency Order on Economic Stabilization and Growth, although interest on corporate bonds cannot exceed 16% per annum, it is illegal that the court below ordered the payment of interest or delay damages at the rate of 25% per annum from the day following the delivery of the complaint in this case to the day of full payment.

I think it is reasonable to view that the interest on corporate bonds as stipulated in Article 10 of the above Emergency Order and adjusted under Article 19 (1) of the above Emergency Order shall be in accordance with the provisions of Article 19 (2) of the same Act and the Interest Limitation Act shall not apply (see Supreme Court Decision 72Da2487 delivered on July 10, 1973). However, in rendering a ruling ordering the performance of all or part of the adjusted bonds, the compensation for the delayed performance of the obligation may be calculated at the interest rate as stipulated in Article 3 (1) of the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings, notwithstanding the provisions of interest rate under Article 19 (2) of the above Emergency Order.

The court below's decision on the above purport is just and there is no violation of the law of violation of the precedents such as the theory of lawsuit.

3. Therefore, the appeal is dismissed, and the costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices.

Justices Lee Lee Sung-soo (Presiding Justice)