1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

The purport of the claim and appeal is the purport of the appeal.

1. Basic facts

A. C Co., Ltd. (hereinafter “C”) and D (hereinafter “D,” and “C, etc.” collectively referred to as “C, etc.”) are the implementer of the new apartment construction project with Gangnam-si E 135 households (hereinafter “instant apartment”).

B. For the above implementation project, D entered into a loan agreement with six community credit cooperatives, such as F Saemaul Treasury and G community credit cooperatives (hereinafter “loan financial institutions”) under the joint and several guarantee of C, and eight billion won.

C. On September 30, 2014, C, etc. entered into a real estate security trust agreement with the Defendant on the instant apartment (hereinafter “instant trust agreement”) with respect to each of the instant apartment units, and completed the registration of ownership transfer to the Defendant on the ground of the said trust agreement with respect to each of the instant apartment units.

- Trust Term: From the trust contract date to the completion of debt repayment - The first priority beneficiary: F Saemaul Depository (the lending financial institutions appointed the F Saemaul Depository as an agent and granted all the powers related to the instant trust contract): The first priority beneficiary: the Gangwonwon Branch of the Korea Housing Finance Corporation; H Co., Ltd. - the second priority beneficiary: the Gangwon Credit Management Agency of the Korea Housing Finance Corporation; H Co., Ltd.; H Co., Ltd.; H Co. - the third priority beneficiary: J, K Co., Ltd.; L-4; H Co., Ltd. - the beneficiary: C:

D. At the time of the conclusion of the instant trust contract, C, the Defendant, and the lending financial institution entered into a “fund management agency contract” with the content that they receive the sale price, etc. of the instant apartment as an account in the name of the Defendant separately opened, and use it as a bond repayment and construction cost payment for the preferential beneficiary under the instant trust contract, such as loans and bonds against the lending financial institution (hereinafter “instant agency contract”).

E. The Plaintiff is the debtor and the defendant as the third debtor, and the Seoul Central District Court Decision 201Da423.