Cheongchul Law Firm (Lead Attorneys: Park Jong-han, Lee Young-kyung) has recently dismissed the other party's request for the exercise of rights and the cancellation of collateral in relation to the deposit and insurance bond they provided as collateral during their application for a preliminary injunction.

• The other party provided approximately 660 million won as collateral when applying for a real estate disposition prohibition against the client's land, in accordance with the court's order to provide collateral. Among that, approximately 66 million won had to be provided in cash as collateral. Following this, Cheongchul Law Firm, having received the client's commission, filed an objection against the other party's real estate disposition prohibition and won all claims, obtaining a court judgment declaring the other party's real estate disposition prohibition unlawful.

• When the real estate disposition prohibition became ineffective, the other party applied for the exercise of rights and the cancellation of collateral against the client to recover the 66 million won they had deposited in cash, and accordingly, the court delivered a notice to the client regarding whether to exercise their rights.

In relation to this, Cheongchul Law Firm filed a lawsuit for damages against the other party on the grounds that the improper and unlawful real estate disposition prohibition by the other party had caused harm to the client, and by substantiating the filing of that lawsuit to the court, requested to dismiss the other party's application for the exercise of rights and the cancellation of collateral, and the court accepted Cheongchul's opinion.

In cases of provisional seizure or injunction, the court mandates that the applicant provide collateral to ensure the compensation for damages the respondent may suffer from that preservation measure. Afterwards, if it is confirmed that the other party's provisional seizure or injunction is unlawful, and that property damage has occurred due to such provisional seizure or injunction, the applicant can be compensated for that property damage with the collateral provided by them based on a valid enforcement order concerning the property damage.

Cheongchul Law Firm has made every effort to compensate for the damages incurred by the client due to the other party's unlawful injunction, and accordingly achieved the results as described above.

Cheongchul Law Firm promises to continue to do its best for the benefit of the client.