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1. The Plaintiff’s revocation of a trust agreement and its claim for restitution, which was concluded on July 30, 2014, among lawsuits against Defendant C, D, and E.
Reasons
1. Basic facts
A. 1) The Plaintiff entered into a credit guarantee agreement, etc.
(1) On October 28, 2009, the Plaintiff entered into a credit guarantee agreement with the Industrial Bank of Korea with respect to KRW 700,000,000, out of loans extended by Defendant A from the Industrial Bank of Korea, as follows: (a) on October 28, 2009, the term of guarantee was set from October 27, 2009 to October 27, 2010; and (b) thereafter, on several occasions, the term of guarantee was modified to October 8, 2014 (hereinafter “instant first guarantee agreement”).
(2) On October 9, 2012, the Plaintiff entered into a credit guarantee agreement with the term of guarantee on KRW 480,000,000, out of the loans extended by Defendant A from the Industrial Bank of Korea to October 8, 2013, with the term of guarantee fixed from October 9, 2012 to the end of October 8, 2013, and subsequently, changed the term of guarantee to the end of October 8, 2014 (hereinafter “instant second guarantee agreement”).
(2) At the time of the first and second guarantee agreement of this case, Defendant B guaranteed the Plaintiff’s debt incurred under the said guarantee agreement.
3) According to the instant guarantee agreement, when Defendant A performed the guaranteed obligation due to his failure to meet the respective obligations of the above loans, Defendant A agreed to reimburse the Plaintiff’s subrogated payment and damages for delay, penalty, guarantee fee, expenses, etc. according to the rate determined by the Plaintiff (12% per annum from December 1, 2012). (B) Defendant A, based on the instant guarantee agreement, extended KRW 700,000 from the Industrial Bank of Korea; and KRW 470,000,000 from the Industrial Bank of Korea based on the instant guarantee agreement; however, Defendant A applied for corporate rehabilitation procedures as the Incheon District Court 2014 Ma502, Sept. 5, 2014.