Whether or not there is a reappeal against the decision of approval of a successful bid by excess of the amount and the existence of the secured claim.

As long as an auction has been conducted on the basis of the secured claim of a mortgage, the existence of the secured claim and the amount thereof shall not be a ground for re-appeal against the decision of commencement of auction, even though the objection against the decision of commencement of auction or the decision of permission of adjudication of auction is not raised.

Article 33 of the Auction Act

Supreme Court Order 67Ma541 Decided July 19, 1976

[Judgment of the court below]

Seoul Central District Court Order 79Ra88 Dated June 11, 1979

The reappeal is dismissed.

We examine the grounds for reappeal by the re-appellant.

According to the reasoning of the decision of the court below, if an auction is conducted through legitimate procedures, the successful bid price is lower than the market price, and thus it cannot be deemed that such auction goes against the public order and good morals, or damages fair trade, and the successful bid price is lower than the market price does not constitute legitimate grounds for appeal, and it cannot be viewed that there are no other illegal grounds to revoke the original decision ex officio. In light of the record, the court below's decision is just, and the court below's decision is dismissed. In other words, as long as an auction was conducted based on the secured claim of a mortgage that has been duly registered for establishment, the issue of whether the secured claim exists and its amount is different can not be a ground for re-appeal against the decision of permission of auction (see Supreme Court Order 67Ma541, Jul. 19, 1967; Supreme Court Order 67Ma541, Jul. 19, 196).

Therefore, the reappeal is dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.

Justices Presiding Justice (Presiding Justice)