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| TITLE | Supreme Court Decision 2020Da296840 Decided January 12, 2023 ¡¼Demurrer Against Distribution¡½ [full Text] |
|---|---|
| Summary | |
| ¡¼Main Issues and Holdings¡½ [1] Where the amount of damages for delay of a claim was not entered in the register, whether the scope of a claim secured of a pledge right created on a collateral security is limited to the agreed interest entered in the register (negative) [2] Where a third party acquires a right of reimbursement against an obligor by discharging an obligation on behalf of the obligor, whether the claim that the obligee had and the right in respect to its security are transferred to the person who discharged the obligation on behalf of the obligor within the right of reimbursement (affirmative) [3] In a case where: Stock Company A, a collateral security holder, entered into the first loan agreement with Stock Company B and created a pledge right on its collateral security for Stock Company B; after that, as Stock Company C performed the balance of the obligation of the first loan agreement on behalf of Stock Company A by subrogation to Stock Company B in the process of entering into the second loan agreement with Stock Company A and others, the pledge right created on collateral security of Stock Company A for Stock Company B was transferred to Stock Company C; and when an immovable being the object of the collateral security was sold through a voluntary auction procedure, and thus Stock Company C received the proceeds of the sale as a pledgee of the collateral security, Party D and one other, who were pledgees of the collateral security having the subsequent right thereto, filed a lawsuit of demurrer against the distribution against Stock Company C, the case holding that there is no basis to see that the claim secured of a pledge right created on the collateral security, which was transferred to Stock Company C, is a claim of the first loan agreement extinguished by the reimbursement of a person who has performed the obligation on behalf of the obligor by subrogation and a pledge right created on the collateral security secures the claim of the second loan agreement, which is the obligation of Stock Company A to be repaid to Stock Company C, beyond the claim amount for reimbursement of Stock Company C | |


