Despite the existence of the national tax claim which takes precedence over the secured claim, if the secured creditor is paid the total amount of the successful bid price, the amount of the national tax claim would be unjust.

Despite the existence of the national tax claim which takes precedence over the secured claim, if the secured creditor receives the total amount of the successful bid price, the amount of the national tax would be unjust.

Article 741 of the Civil Act, Article 5 of the National Tax Collection Act

Korea

The Bank of Korea, Inc.

Seoul High Court Decision 71Na2560 delivered on February 23, 1972, Seoul High Court Decision 71Na2560 delivered on February 23, 1972

The appeal is dismissed.

The costs of appeal shall be borne by the defendant.

The defendant's attorney Kim Jong-sik and Yu-hee's grounds of appeal are also examined.

According to the facts established by the court below, since the non-party 1 was in arrears with the national tax amount of KRW 456,636 and additional 496,660, which is within one year from the date of the defendant's registration of establishment of the right to collateral security, all of the payment periods from 1967 to 1968, and the non-party 1 and the defendant were in arrears with the national tax amount of KRW 456,666,00 which is within one year from the date of the defendant's registration of establishment of the right to collateral security, the plaintiff registered the seizure of the real estate as of December 6, 1968 under Article 59 of the National Tax Collection Act, and notified the above seizure to the non-party 1 and the defendant. The plaintiff was not entitled to receive the above amount of the national tax from the non-party 1 and the non-party 466,000 which was not entitled to receive the above amount of the national tax from the non-party 1 and the non-party 12.

Therefore, the appeal shall be dismissed according to the consistent opinion of the participating judges, and the costs of the lawsuit shall be borne by the losing judge and it is so decided as per Disposition.

Judge Do-dong (Presiding Judge) of the Supreme Court