CONTENTS
- 1. The Client's Situation
- 2. Uijeongbu Law Firm, Assistance With the Application for Compulsory Execution
- - Compulsory Execution Attorney, Argument That the Debt Had Been Repaid
- - Compulsory Execution Attorney, Argument on the Necessity of a Stay of Compulsory Execution
- 3. The Result of the Uijeongbu Law Firm's Assistance, Success in the Granting of the Application for a Stay of Compulsory Execution
1. The Client's Situation
The client wished to apply for a stay of compulsory execution.
The client wished to stay the compulsory execution in a real estate auction to enforce a security right until the judgment in a separately pending case seeking cancellation of mortgage registration became final.
The Uijeongbu compulsory execution attorney set out to assist the client with the application for a stay of compulsory execution.
Stay of Compulsory Execution, Explained by the Compulsory Execution Attorney
An application for a stay of compulsory execution refers to a request to the court to temporarily 🔗stay execution of compulsory enforcement, such as attaching property or proceeding with an auction under a final judgment or the like.
If a judgment includes a declaration of provisional execution, the creditor may obtain a writ of execution and carry out compulsory execution to achieve their objective even though an appeal has been filed and the judgment has not become final. In this case, the debtor may file an application for a stay of compulsory execution and temporarily stay the execution until the judgment becomes final.
2. Uijeongbu Law Firm, Assistance With the Application for Compulsory Execution
The Uijeongbu law firm set out to assist with the application for compulsory execution.
The Uijeongbu compulsory execution attorney explained the background of this case in detail and requested the stay application.
Compulsory Execution Attorney, Argument That the Debt Had Been Repaid
The client borrowed about 30 million won from the respondent about 20 years ago.
At that time, the client and the respondent prepared a loan certificate for the loan and, at the respondent's request, prepared a loan certificate for 50 million won by adding 10 million won in accrued unpaid interest to the 30 million won principal and a further 10 million won as a reserve against unpaid interest.
In addition, they entered into a mortgage establishment contract setting the maximum secured amount at 60 million won and established a mortgage on real estate owned by the applicant.
After completing the establishment of the mortgage, the client thereafter paid the respondent 45 million won to the respondent's account in about 30 installments.
The Uijeongbu law firm argued that the client had believed the debt to be fully repaid.
This was because the respondent had not made any demand for the debt against the applicant until serving the certified copy of the decision to commence the auction proceedings for the real estate in this case.
Compulsory Execution Attorney, Argument on the Necessity of a Stay of Compulsory Execution
On the basis of the same set of facts described above, the client sought cancellation of the mortgage registration in this case against the respondent.
The Uijeongbu law firm emphasized that, because the respondent had applied for an auction to enforce a security right on the real estate based on the mortgage in this case and a decision to commence the auction had been issued, the application was filed to seek a stay of the compulsory execution until the judgment in the case seeking cancellation of the mortgage registration became final.
3. The Result of the Uijeongbu Law Firm's Assistance, Success in the Granting of the Application for a Stay of Compulsory Execution
As a result of the Uijeongbu law firm's assistance, the client succeeded in the application for a stay of compulsory execution, staying the auction proceedings in the real estate auction to enforce a security right until the judgment in the mortgage cancellation case was issued.
A stay of compulsory execution is a procedure necessary to suspend the enforceability recorded in a judgment or a decision.
An application for a stay of compulsory execution must state the information of the creditor and the debtor and the purpose of the application, and must be submitted to the court.
The application must clearly state the grounds on which the compulsory execution should be stayed, and documents able to substantiate those grounds must also be submitted.
The most important point in an application for a stay of compulsory execution is promptness.
This is because the execution cannot be stayed once the creditor has already carried out compulsory execution against the debtor's property and applied it toward repayment.
If you wish to file a prompt application for a stay of compulsory execution, you may contact Daeryun Law Firm's 🔗Uijeongbu attorney.
This content is based on actual case studies of Daeryun Law LLC with some adaptations, and the copyright belongs to our firm.
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