Where the receiver of a reorganization company fails to repay the reorganization claim in accordance with the decision to authorize the reorganization program, whether a reorganization creditor may file a lawsuit for the performance or confirmation of the reorganization claim or enforce compulsory execution (negative)

In light of the provisions of Articles 68, 112, 242, 245, and 282 of the Company Reorganization Act, even if the receiver of the reorganization company fails to repay the reorganization claim as determined by the decision to approve the reorganization plan, the reorganization creditor may only be reimbursed for the reorganization claim as determined by the reorganization plan, and any compulsory execution may not be filed, as well as any lawsuit claiming the performance or confirmation of such claim, during the company reorganization procedure.

Articles 68, 112, 242, 245, and 282 of the Company Reorganization Act, Article 226 of the Civil Procedure Act, Article 228 of the said Act

Hanyang Industrial Co., Ltd. (Attorney Lee Young-young, Counsel for the plaintiff-appellant)

Construction of Mining Names Co., Ltd.

Daegu High Court Decision 90Na2063 delivered on November 15, 1990

The appeal is dismissed.

The costs of appeal are assessed against the plaintiff.

We examine the grounds of appeal by the Plaintiff’s attorney.

In light of the provisions of Articles 68, 112, 242, 245, and 282 of the Company Reorganization Act, even if the receiver of the reorganization company fails to repay the reorganization claim as determined by the decision to approve the reorganization plan, the decision of the court below that held that while the company reorganization procedure is in progress, the reorganization creditor is only entitled to receive the reorganization claim as determined by the reorganization plan, and it is not possible for the reorganization creditor to make any compulsory execution as well as any lawsuit claiming the performance or confirmation of the claim, and that there is no error of interpreting the provisions of Articles 68, 242, 245, and 282 of the Company Reorganization Act, such as the theory of lawsuit, and there is no reason to dispute.

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

Justices Yoon Jae-ho (Presiding Justice)