Successful Real Estate Provisional Attachment for 273 Million KRW Fraud Damage Without Cash Deposit
26-08-03 146
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1. Case Overview
The client suffered massive financial damages amounting to 273,300,000 KRW due to the opposing party's malicious fraudulent acts. The client was preparing a lawsuit for damages to recover the losses; however, there was a highly significant risk that the opposing party would conceal or transfer their only registered assets during the litigation. Therefore, securing a definitive "provisional attachment" for compulsory execution after winning the main lawsuit was more urgent than anything else.
Typically, perpetrators of fraud crimes have a strong tendency to transfer criminal proceeds to others' names or dispose of them quickly. Therefore, to obtain a swift provisional attachment decision, it was necessary to thoroughly demonstrate to the court the clear factual relations of the illegal act, the existence of a high-value claim exceeding 200 million KRW, and the "necessity of preservation" (why the attachment must be executed immediately). An even greater issue was the "security deposit." Given the large claim amount, if the court ordered a massive cash deposit, it could act as an unbearable secondary victimization for the client, who was already experiencing severe economic distress from the fraud.
The dedicated team at Law Firm Theo commenced immediate legal action without a single day's delay upon being retained. They rapidly gathered objective evidence to prove the opposing party's fraudulent acts, completely substantiating the clear existence of the 273 million KRW in damages. They strongly appealed the necessity of preservation by detailing the perpetrator's circumstances and intent to conceal assets, vigorously arguing to the court that without immediately freezing the real estate, damage recovery would be impossible even if they won later. Most importantly, to relieve the client's financial pressure, they actively argued that "ordering a cash deposit from a victimized creditor is excessively harsh," devoting full efforts to persuade the court to replace it entirely with a surety insurance bond.
4. Result of Assistance
Based on Law Firm Theo's thorough preparation and meticulous legal arguments, the court accepted all of Theo's applications and issued an immediate "provisional attachment decision" on the real estate owned by the opposing party. In particular, they successfully secured a decision to substitute the provision of security, which could have amounted to tens of millions of won and was the greatest concern, with a "surety bond for the full deposit amount." As a result, the client was able to safely freeze the perpetrator's assets without a single penny of cash pressure, establishing a solid foundation for victory in the upcoming lawsuit for damages.
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