Successful Provisional Attachment of 600 Million KRW in Future Trust Property Claims
26-06-22 93
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1. Case Overview
The client held a promissory claim of approximately 600 million KRW against the debtor, but because there was a possibility that the debtor might dispose of their assets, provisional measures were necessary to recover the claim. Consequently, an application was filed for the provisional attachment of trust-related claims that the debtor could receive in the future from a trust company.
Rights related to trust properties involve more complex legal relationships than general claims, making it difficult to specify the target of the provisional attachment. In particular, the core challenge was accurately identifying future claims, such as settlement funds, proceeds, and the right to claim the registration of transfer of ownership that arise upon the termination of the trust agreement.
By meticulously analyzing the debtor's trust agreement, the future trust claims that could arise were specified as the target for provisional attachment, and the existence of the promissory claim and the necessity for its preservation were thoroughly substantiated. Furthermore, by proactively responding to the method of providing collateral, the process was managed so that a guarantee insurance bond could be used as a substitute without requiring a cash deposit.
4. Result of Assistance
The court fully accepted the client's application and granted the decision for a provisional attachment of claims worth approximately 600 million KRW. Through this, the debtor's disposal of trust-related claims was blocked in advance, establishing a strong foundation for recovering the claims prior to the main lawsuit. Notably, this is a successful case that minimized the client's financial burden by achieving the provisional attachment without the burden of a cash deposit.
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