1. All of the supplementary participation applications filed by the Defendant joining the Defendant are dismissed.

2. The Defendant limited to the Plaintiff on April 11, 2014.

1. Details of the disposition;

A. On October 5, 2005, A Co., Ltd. (hereinafter “A”) was established for the construction and operation of a golf course, ancillary business, etc.; on June 2007, after obtaining approval of a business plan for a membership golf course of 18 holes (hereinafter “instant golf course”); and completed on August 2007, after starting a golf course in the first place, on December 2009; and after completing registration of a sports facility business on February 2, 2010, the instant golf course was opened and operated on April 4, 2010.

The Intervenor joining the Defendant (hereinafter referred to as the “ Intervenor”) was a member of the instant golf course.

B. On March 30, 2012, A applied for the commencement of rehabilitation procedures to the rehabilitation court (hereinafter “Rehabilitation court”) on March 30, 2012 due to excessive disbursement of construction costs at the early stage of the development of golf courses, failure of membership sale, etc. On April 30, 2012, A was issued a decision to commence rehabilitation procedures with the rehabilitation court 2012.

On September 25, 2014, the rehabilitation court held a meeting of interested persons for the examination and resolution of the rehabilitation plan and resolved on the rehabilitation plan, and recognized that the requirements provided for in Article 243(1) of the Debtor Rehabilitation and Bankruptcy Act (hereinafter “Rehabilitation Act”) were met, and made a decision to authorize the rehabilitation plan (the “instant rehabilitation plan”) on the same day.

C. Among the instant rehabilitation plan, the content on the alteration of the right to the instant golf course’s obligation to return membership fees and the method of repayment, and the conversion into a public golf course of the instant golf course is as follows.

Part III: Change of rights to rehabilitation security rights and rehabilitation claims and method of repayment under Section III: Change of rights to rehabilitation claims and method of repayment

5.The principal and interest prior to commencement of the obligation to return membership fees - The principal and 17% of the interest prior to commencement shall be paid in cash and the remainder shall be converted into equity investment.

On the other hand, upon the resolution of the draft rehabilitation plan, all the rights of the membership fee creditors, including the right to use the instant golf course.