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TITLE | [Affirmation of Non-existence of Debt]Supreme Court Decision 2004Da68366 Delivered on May 12, 2005 [full Text] |
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Summary | |
[1] The case where a defense can be set up against the bankruptcy trustee based on the legal relationship established between the bankrupt and another party [2] The case affirming the court below's holding which acknowledged the exemption of a pro forma loan debtor from the obligation owed to the bankruptcy trustee to the extent of the bankrupt¡¯s loss of a floating sum mortgage (keun-mortgage) on real property incurred before the bankruptcy [3] The criteria for acknowledging guarantee obligation of the pro forma primary debtor who lends its name as the debtor for convenience in loan process |