All appeals are dismissed.

The costs of appeal are assessed against each party.

The grounds of appeal are examined.

1. Article 3(2) of the Act on Special Cases Concerning the Promotion, etc. of Legal Proceedings (hereinafter “Litigation Promotion”) provides that “Where it is deemed reasonable for an obligor to object to the existence or scope of such obligation” refers to a case in which the obligor’s assertion in dispute as to the existence or scope of such obligation is deemed reasonable.”

Whether a debtor's defense is appropriate or not is a matter of fact finding and evaluation of the court with respect to the case in question.

(See Supreme Court Decision 2015Da6302 Decided January 14, 2016, etc.). The lower court, while maintaining the claim cited by the first instance court, ordered the Defendant to pay damages for delay by applying Article 3(1) of the Litigation Promotion Act, instead of applying Article 6% per annum, which is the statutory interest rate stipulated in the Commercial Act, to the date of the lower judgment, on the ground that there exist special circumstances to deem it reasonable to deem the Defendant to have claimed the above cited amount as it is.

The judgment below

Examining the reasoning in light of the aforementioned legal principles and the record, the lower court did not err by misapprehending the legal doctrine on Article 3(1) and (2) of the Litigation Promotion Act, contrary to what is alleged in the grounds of appeal

2. As to the Defendant’s ground of appeal

A. As to the grounds of appeal Nos. 1 through 4, 1) The former Corporate Restructuring Promotion Act (amended by Act No. 10684, May 19, 201; hereinafter “former Promotion Act”).

A) The right to demand purchase of a claim by an opposing creditor as stipulated in Article 20 is the right to form a sales contract for the claim by unilateral declaration of intention of the opposing creditor. Therefore, the opposing creditor’s creditor’s creditor council (hereinafter “Council”).

If, within seven (7) days from the date of its resolution, the supporting creditor claims to purchase his claim in writing stating the kind and number of claims.