1. The sales contract concluded on January 2, 2019 between the Defendant and C with respect to each real estate listed in the separate sheet is 34,50.

1. Facts of recognition;

A. On December 31, 2017, C agreed to pay KRW 370,000,000 to the Plaintiff by December 31, 2018 (hereinafter “instant agreement”).

B. On January 2, 2019, C entered into a sales contract with the Defendant to sell each real estate listed in the separate sheet (hereinafter “each of the instant real estate”) for KRW 110,000,000 (hereinafter “instant sales contract”) and completed the registration of ownership transfer for each of the instant real estate to the Defendant.

On January 25, 2019, the registration of establishment of a new establishment of a D Association was cancelled.

C. At the time of the instant sales contract, the Plaintiff was held in title trust, both of the 11,214 square meters of F forest land (hereinafter “Griuri lot number”), H, H, and I, 60/5,012 shares, and J, which were registered under the name of E at the time of the instant sales contract.

Around 2018, the Plaintiff transferred the ownership of K, L, and M, which was held in title trust to E, other than the above real estate, to N andO as a substitute for payment in kind.

[Ground of recognition] Facts without dispute; Gap evidence Nos. 1, 4, 9, 11, 13; Eul evidence Nos. 1-5 (including paper numbers; hereinafter the same shall apply); Eul's witness's witness's witness's partial testimony; and the purport of the whole pleadings

2. The occurrence of the right to revoke the fraudulent act;

A. According to the facts of recognition under Paragraph (1) of the existence of the preserved claim, the Plaintiff’s claim for the instant agreed amount against C was incurred before the date of conclusion of the instant sales contract claiming that the Plaintiff was a fraudulent act, and thus, the obligee’s right of revocation becomes the preserved

B. According to the evidence and evidence in the presence of C’s insolvency and evidence Nos. 5, 8, and 10, C’s property status at the time of the instant sales contract can be acknowledged as follows.

Although evidence to acknowledge the market price of shares 660/5,012 among I was not submitted, considering the amount of debt and damages for delay of C, which is a small property, C had already been in excess of positive property at the time of the instant sales contract, or C had been in excess of positive property due to the instant sales contract.