1. The defendant's appeal is dismissed.

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

Purport of claim and appeal

1..

1. Basic facts

A. The Defendant is an association established for the purpose of carrying out B land readjustment project (hereinafter “instant project”).

B. When both F Co., Ltd. and F Co., Ltd., a contractor, who had built an apartment building in the instant site, is insolvent in the net city of 29,311m2 (hereinafter “instant project site”), which is the land within the land zone where the instant project is being carried out, part of the creditors of the above two companies, including the subcontractor in the instant apartment construction site, including the above subcontractor, were established for the purpose of collecting their claims to the maximum extent possible, and occupied the said apartment construction site.

Meanwhile, in the public sale procedure for the instant project site, D Limited Company that purchased the instant project site (hereinafter “D”) entered into an agreement with the creditor group company around October 201 to transfer possession of the construction site to D along with the right to construct new apartment buildings that was transferred by the former contractor to D, and D to pay 12 billion won to the creditor group company.

C. On September 25, 2012, a claim-sharing company filed a lawsuit against D seeking payment of KRW 4.2 billion out of the aforementioned agreed amount of KRW 12 billion (Seoul District Court 2012Gahap9920), and the said court rendered a judgment ordering D to pay approximately KRW 3.9 billion to the claim-sharing company and its delayed damages on July 12, 2013.

D Around October 23, 2013, when the above lawsuit was pending in the appellate court, D filed an appeal (Seoul High Court 2013Na3629). Around October 23, 2013, when the above lawsuit was pending in the appellate court, P, the representative director of the creditor company, and P, the representative director of P, shall return the amount equivalent to the existing investment amount of P, and take over D's shares and management rights from P, but until D purchased the business site of this case until it completes the return of the amount equivalent to the above investment amount, D shall bear the interest, etc. on the borrowed amount while purchasing the business site of this case, and D shall bear the interest on the same day.