바카라 사이트 꽁머니

1. Case summary

① 바카라 사이트 꽁머니 represented Seoul Guarantee Insurance (“SGI”).

② Litigation: As a creditor, SGI participated in a reorganization proceeding filed by a joint guarantor (i.e., the plaintiff) of SGI’s primary debtor. In the middle of the reorganization proceeding, SGI foreclosed its security right to the primary debtor and was paid its debt in part. The joint guarantor developed a reorganization plan in the proceeding and the scope of debt to which SGI might claim its right was specifically determined. The joint guarantor asserted that the scope of the reorganization claim held by SGI against it should be determined on the basis of the amount calculated by deducting the amount of debt already repaid to SGI through the foreclosure of the security interest from the original claim held by SGI against the primary debtor. If this was the case, the joint guarantor did not have any debt owed to SGI, and SGI needed to return unjust enrichment that it had earned from the foreclosure of the security interest in the primary debtor. The joint guarantor filed a lawsuit against the creditor to seek the confirmation of the nonexistence of debt. The district court accepted all the claims filed by the joint guarantor and rendered a decision in favor of the joint guarantor. 바카라 사이트 꽁머니 represented SGI at the appeal court. It made convincing arguments about the application of legal theory regarding the sustention of a primary debtor’s liability. In addition, Barun Law succeeded in substantiating that there had been no unfair enrichment and in determining the specific scope of debt owed by the joint guarantor to SGI.  Barun Law helped the creditor reverse the district court’s decision and obtain a decision in favor of it at the appeal court.


2. Implication

It should be noted that a reorganization proceeding is subject to a legal theory significantly different from the general legal theory under the Civil Code where a debt is owed by several debtors. Where multiple persons jointly and severally liable for an obligation, if the rehabilitation procedures commence for all or part of such persons, a creditor may exercise its rights on the total amount of the claims it holds at the time that such rehabilitation procedures commence in the capacity of rehabilitation creditors in each rehabilitation procedure. Even if another person jointly and severally liable for an obligation repays the obligation or takes other action to extinguish the obligation as to the creditor after the rehabilitation procedures commence, such creditors may exercise their rights on the total amount of the claims they hold at the time that the rehabilitation procedures commence, save when the total amount of the claims are extinguished (Article 126 of the Act on Debtor Rehabilitation and Bankruptcy). The district court violated the applicable act by deducting the partial repayment amount from the total amount of debt owed by the 바카라 사이트 꽁머니 to the creditor due to its lack of understanding and analysis of the relevant legal theory. Fortunately, however, the wrong decision was corrected by the appeal court.