1. Revocation of the first instance judgment.

2. The plaintiff's claim is dismissed.

3. All costs of the lawsuit shall be borne by the Plaintiff.

1. The plaintiff's assertion

A. On September 10, 2008, the Plaintiff received an investment of KRW 50 million from C, and KRW 80 million from the Defendant, and agreed to KRW 250 million in total to D (hereinafter “D”) for interest accrued while lending KRW 250 million in total to the Plaintiff Company D (hereinafter “D”).

B. On the same day, the Plaintiff, C, and the Defendant jointly filed a provisional registration of the right to claim ownership transfer (hereinafter “the provisional registration of this case”) with respect to the Gyeonggi-do E Forest E, Gyeonggi-gun, Gyeonggi-do, 5,316 square meters of forest land, F forest land 3,545 square meters, G forest land 7,088 square meters of forest land, and H forest land 1,772 square meters of land

C. The Plaintiff received the principal or interest of the loan from D and managed the loan claims against D, such as the payment of principal and interest to C and the Defendant. The loan remaining after partial repayment is KRW 130 million, and the amount is KRW 100 million out of which is the Plaintiff’s credit, and KRW 30 million is the Defendant’s credit.

On June 14, 2016, the provisional registration of this case was based on the instant provisional registration, the auction procedure was conducted with respect to E forest land 5,316 square meters, G forest land 7,08 square meters, H forest land 1,772 square meters (in relation to F forest land 3,545 square meters, the provisional registration is cancelled on October 13, 2008).

In this auction procedure, the Plaintiff, C, and the Defendant reported the secured debt of the instant provisional registration in KRW 66,66,667 and received a total of KRW 113,516,697 (Defendant 37,838,899, KRW 37,838,899, KRW 37,838,899, and KRW 37,838,900).

E. However, if the sum of KRW 113,516,697, which was distributed on the basis of the provisional registration of this case, is divided into the claim ratio between the Plaintiff and the Defendant ( KRW 100 million: KRW 30 million), the Defendant’s share is KRW 26,196,160, and if the Defendant’s share of KRW 747,766, which was the amount to be paid by the Defendant out of the execution cost, exceeds the sum of KRW 26,943,926 (= KRW 26,196,160).

Nevertheless, the Defendant received dividends of KRW 39,094,728, including the cost of execution in the auction procedure based on the provisional registration of this case (i.e., dividend of KRW 1,255,829, out of the cost of enforcement of KRW 37,838,899). As a result, KRW 12,150,80 = 39,094.