1. The plaintiff,

(a)the obligation to loans of KRW 329,047,824 to Defendant B;

B. 2,912,531 won against Defendant C.

1. Basic facts

A. The Plaintiff was liable for each of the loans of KRW 82,300,000 to I, KRW 329,047,824 to Defendant B, KRW 2,912,531 to Defendant C, and KRW 19,00,00 to Defendant D.

As Defendant E, F, G, and H’s children, Defendant E, G, and H inherited each quarter of their loans to the Plaintiff.

B. On June 9, 2014, the Plaintiff filed an application for bankruptcy and immunity with the Seoul Central District Court No. 2014Hadan5842, 2014Ka6125.

The Plaintiff was declared bankrupt on November 10, 2014 and became final and conclusive around that time, and the decision to grant immunity on May 18, 2015 became final and conclusive on June 4, 2015.

C. When filing an application for bankruptcy and exemption, the Plaintiff did not enter the Defendants’ respective loans claims against the Plaintiff in the creditor list.

[Based on recognition] Defendant E, F, and H: Each of the descriptions and arguments set forth in Articles 208(3)2, 150(3), and 150(1) (i) of the Civil Procedure Act, Defendant B, C, D, and G: The purport of the whole of the arguments and arguments set forth in subparagraphs A through 8

2. Determination

A. The Plaintiff’s assertion did not put the Defendants’ claims in the creditor list in bad faith during the course of being declared bankrupt and granted immunity, and thus, the Plaintiff’s obligation to the Defendants was fully exempted.

B. Article 566 Subparag. 7 of the Debtor Rehabilitation and Bankruptcy Act provides for “Claims not entered in the list of creditors in bad faith,” one of non-exempt claims.

"Claims that are not entered in the list of creditors in bad faith by the debtor" means that the debtor is aware of the existence of obligations against the bankruptcy creditor before immunity is granted, but is not entered in the list of creditors. In the event that the debtor was unaware of the existence of obligations, even if he was negligent, it does not constitute non-exempt claims.

In such cases, the obligor's bad faith with respect to the omission of bonds shall be verified and objective data of the obligor regarding the details of the omitted bonds, the obligor's relevance, the relationship between the obligee and the obligor, and the circumstances of the omission.