1. The instant lawsuit shall be dismissed.

2. The costs of the lawsuit shall be borne by the Plaintiff, including the costs incurred by participation.

ex officio, we examine the legitimacy of the instant lawsuit.

On July 26, 2012, pursuant to the credit guarantee agreement entered into with the debtor A on March 15, 2013, the Plaintiff’s Intervenor filed the instant lawsuit seeking the cancellation of ownership transfer registration under Article 4492 of the former Act, on the ground that the purchase and sale reservation entered into on December 27, 2012, and the sales contract entered into on January 30, 2013, concluded with the Defendant on December 27, 2012, for the real estate entered in the separate sheet between the Defendant A, constitutes fraudulent act. The Plaintiff’s Intervenor filed the instant lawsuit seeking the cancellation of ownership transfer claim registration under Article 64201 of the former Act, which was received on December 27, 2012, and the transfer contract entered into on January 30, 2013.

According to Articles 100, 105, 59, and 113 of the Debtor Rehabilitation and Bankruptcy Act (hereinafter referred to as the "Act"), after a decision is made to commence rehabilitation procedures, the custodian shall exercise the right to set aside, and the court may order the custodian to exercise the right to set aside upon request of any rehabilitation creditor, any rehabilitation secured creditor, etc. or ex officio. When a lawsuit filed by any rehabilitation creditor is pending at the time the decision is made to commence rehabilitation procedures, the lawsuit procedures shall be interrupted until the takeover of the lawsuit

In light of the purport of these regulations and the nature of rehabilitation procedures, which are collective debt settlement procedures, and the purpose of avoidance power, the custodian shall exercise the avoidance power aiming at equal repayment to all creditors after the decision on commencement of rehabilitation procedures has been rendered, and the rehabilitation creditors, who are unable to receive repayment or demand repayment of rehabilitation claims listed in the list of rehabilitation creditors, cannot file a lawsuit seeking revocation against the creditor with the aim of preserving the liability assets for individual claims on the premise of individual compulsory execution.

Supreme Court Decision 200