With respect to the auction procedure for a loan in arrears by a financial institution, it is justifiable to dismiss the appeal on the ground that the appellant has not complied with the order of deposit by the court.

With respect to the auction procedure for a loan in arrears by a financial institution, it is justifiable to dismiss the appeal on the ground that the appellant has not complied with the order of deposit by the court.

Article 5-2 of the Act on Special Measures for Loans in Arrears by Financial Institutions, Article 231 of the Civil Procedure Act

Re-appellant

Seoul Central District Court Order 70Ra176 dated August 10, 1970

The reappeal is dismissed.

Judgment on the Re-Appellant's ground of reappeal

Under Article 2 subparagraph 2 of the Act on Special Measures for Loans in Arrears by Financial Institutions, a loan in arrears refers to the principal, interest, and total amount of debts which have not been paid on the agreed date in credit transactions handled by financial institutions under Article 2 subparagraph 2 of the same Act. According to the records, the court below's decision which dismissed the appeal on the ground that the court below ordered the deposit as a security under Article 5-2 of the same Act, but failed to make a deposit on the ground that it did not comply with the order, the court below's decision which dismissed the appeal on the ground that the court below's decision was just and proper, and it did not err in the misapprehension of legal principles, incomplete hearing, or omission of judgment.

Therefore, the reappeal is dismissed. It is so decided as per Disposition by the assent of all participating Justices.

Supreme Court Judge Yang Byung-ho (Presiding Judge)