Open Decision Ledger · Rehabilitation & bankruptcy
Effect of a Security Interest over Future Claims on Claims Arising after Commencement of Rehabilitation Proceedings following Assignment by Way of Security
Translated from the Korean original. Read the Korean
Supreme Court, Mar. 28, 2013, 2010Da63836 (judgment)
Case name: 회생담보권조사확정재판이의
Official text on the National Law Information Center
Question
Where a claim to arise in the future has been assigned by way of security and rehabilitation proceedings are subsequently commenced against the assignor of the claim, does the security interest extend to claims arising after the commencement?
Holding
Once rehabilitation proceedings are commenced, the administrator is a public trustee serving as the manager of the body of interested parties; accordingly, claims arising after the commencement arise from acts performed in the capacity of the administrator and are therefore not included in the object of the assignment by way of security. In this case, where no secured target claim remained as of the time of commencement, the Supreme Court treated the bank's residual loan claim as a rehabilitation claim without any security object.
Summary of the holding, verbatim
회생절차가 개시된 후 발생하는 채권은 채무자가 아닌 관리인의 지위에 기한 행위로 인하여 발생하는 것으로서 채권양도담보의 목적물에 포함되지 아니하고, 이에 따라 그러한 채권에 대해서는 담보권의 효력이 미치지 아니한다.
Unofficial English translation
Claims that arise after the commencement of rehabilitation proceedings arise from acts based on the status of the administrator, not of the debtor, and are not included in the object of the transfer of claims by way of security; accordingly, a security interest does not take effect with respect to such claims.
Disposition
Dismissed Stated in the decision
상고를 기각한다.
Unofficial English translation
The appeal is dismissed.
Form of the test
Elements stated Stated in the decision
채권양도담보의 목적물에 포함되지 아니하고, 이에 따라 그러한 채권에 대해서는 담보권의 효력이 미치지 아니한다.
Unofficial English translation
are not included in the object of the transfer of claims by way of security; accordingly, a security interest does not take effect with respect to such claims.
Factors
- 회생절차개시결정으로 채무자의 업무의 수행과 재산의 관리 및 처분 권한은 모두 관리인에게 전속하게 되는데
- 이해관계인 단체의 관리자로서 일종의 공적 수탁자에 해당한다
- 을 은행이 피담보채권인 대출금채권 전액의 만족을 얻지 아니한 이상
- 회생절차개시 당시까지 담보목적물인 채권이 남아 있지 아니하였고
Unofficial English translation
• By the order commencing rehabilitation proceedings, the authority to conduct the debtor's work and to manage and dispose of the property becomes vested exclusively in the administrator, and
• in his capacity as the manager of the group of interested parties, he corresponds to a type of public trustee
• unless Bank B has obtained full satisfaction of the loan claim, which is the secured claim,
• no claim that was the object of the security assignment remained as of the time of the commencement of rehabilitation proceedings, and
Relation to precedent
Follows earlier decisions Stated in the decision
대법원 1988. 10. 11. 선고 87다카1559 판결
Unofficial English translation
Supreme Court Decision 87DaKa1559 decided October 11, 1988
Decisions referred to
[1] 대법원 1988. 10. 11. 선고 87다카1559 판결(공1988, 1403)
Burden of proof
Not addressed Not in the decision
Open question and revisit condition
Are claims whose cause arose before the commencement of rehabilitation proceedings but whose maturity date arrives or which become definite after the commencement treated in the same manner as claims arising after the commencement, and thus excluded from the object of the assignment by way of security?
This reading will be re-examined if the provision on the status of the administrator under Article 56, paragraph (1) of the Debtor Rehabilitation and Bankruptcy Act or the rules governing assignment by way of security over collective claims are amended, or if the Supreme Court renders a different holding on the effect of an assignment by way of security over future claims in rehabilitation proceedings.
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8 of 8 axes matched GPT-6 Astra (OpenAI, codex CLI) · 2026-10-16
When compared with an independent reading by another family of AI (GPT-6 Astra), which read only the original text without seeing the primary reading, all eight axes matched.
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Lower-court contrast & scope of application
Lower-court reading vs. Supreme Court holding
Lower-court context: The court below held that the secured claim was fixed upon enforcement of the security interest at the time the plaintiff recovered claims for medical expenses and the like by exercising its right of set-off, and held that the plaintiff's loan claim was a rehabilitation claim.
Supreme Court standard: The Supreme Court held that, unless satisfaction of the full amount of the secured claim has been obtained, the security interest may be enforced even against claims arising thereafter, and pointed out that the reasoning of the court below on the fixing of the secured claim was a misapprehension of legal principles. However, because the security interest does not extend to claims arising after the commencement of rehabilitation proceedings and no secured target claim remained as of the time of commencement, the Supreme Court held that the conclusion of the court below that the residual loan claim is a rehabilitation claim was justifiable, and dismissed the final appeal.
Distinguishing conditions
- Cases in which secured target claims had already arisen and remained as of the time of commencement of rehabilitation proceedings, where a rehabilitation security right may be constituted to that extent
- Cases in which rehabilitation proceedings were not commenced against the debtor and only enforcement of the security interest took place, where the security interest may be enforced even against claims arising thereafter until the secured claim is satisfied in full
- Cases in which the subject of the assignment is not a future claim but individual claims that had already definitively arisen before the commencement
Record verification notes
Before asserting the same conclusion, one must first confirm whether secured target claims actually remained as of the time of commencement of rehabilitation proceedings, and whether the claim in question arose from an act of the debtor before the commencement or from an act of the administrator after the commencement.
From the official text
Points at issue
[1] 장래 발생하는 채권이 담보목적으로 양도된 후 채권양도인에 대하여 회생절차가 개시된 경우, 회생절차가 개시된 후 발생하는 채권에 대하여 담보권의 효력이 미치는지 여부(소극) [2] 갑이 을 은행으로부터 대출을 받으면서 갑의 국민건강보험공단에 대한 향후 의료비 등 채권을 담보목적물로 한 채권양도담보계약을 체결하였는데, 을 은행이 담보목적물 중 일부인 그 당시 현존 의료비 등 채권에 대하여 담보권을 실행하여 공단으로부터 채권 일부를 회수한 후 갑에 대하여 회생절차가 개시된 사안에서, 회생절차개시 후 발생한 의료비 등 채권에 대하여는 담보권의 효력이 미치지 않는다고 한 사례
Unofficial English translation
[1] Whether a security interest takes effect with respect to claims arising after the commencement of rehabilitation proceedings, where claims to arise in the future have been assigned by way of security and rehabilitation proceedings are subsequently commenced against the assignor of the claims (negative) [2] A case in which, where A, upon receiving a loan from Bank B, concluded a claim assignment security agreement under which A's future claims for medical expenses, etc., against the National Health Insurance Service were made the object of the security assignment, and Bank B, having enforced its security interest against a part of that object, namely the claims for medical expenses, etc., then in existence, recovered part of the claim from the Corporation, whereupon rehabilitation proceedings were commenced against A, it was held that the security interest does not take effect with respect to claims for medical expenses, etc., arising after the commencement of rehabilitation proceedings
Summary of the holding
[1] 장래 발생하는 채권이 담보목적으로 양도된 후 채권양도인에 대하여 회생절차가 개시되었을 경우, 회생절차개시결정으로 채무자의 업무의 수행과 재산의 관리 및 처분 권한은 모두 관리인에게 전속하게 되는데(채무자 회생 및 파산에 관한 법률 제56조 제1항), 관리인은 채무자나 그의 기관 또는 대표자가 아니고 채무자와 그 채권자 등으로 구성되는 이른바 이해관계인 단체의 관리자로서 일종의 공적 수탁자에 해당한다 할 것이므로, 회생절차가 개시된 후 발생하는 채권은 채무자가 아닌 관리인의 지위에 기한 행위로 인하여 발생하는 것으로서 채권양도담보의 목적물에 포함되지 아니하고, 이에 따라 그러한 채권에 대해서는 담보권의 효력이 미치지 아니한다. [2] 갑이 을 은행으로부터 대출을 받으면서 갑의 국민건강보험공단에 대한 향후 의료비 등 채권을 담보목적물로 한 채권양도담보계약을 체결하였는데, 을 은행이 담보목적물 중 일부인 그 당시 현존 의료비 등 채권에 대하여 담보권을 실행하여 공단으로부터 채권 일부를 회수한 후 갑에 대하여 회생절차가 개시된 사안에서, 을 은행이 피담보채권인 대출금채권 전액의 만족을 얻지 아니한 이상, 담보권 실행 후 발생하는 의료비 등 채권에 대해서도 담보권을 실행할 수 있고, 담보권 실행으로 인하여 그 후 발생하는 의료비 등 채권에 대하여 담보권의 효력이 미치지 아니하게 되는 것은 아니지만, 담보권 실행 후 갑에 대한 회생절차개시 당시까지 담보목적물인 채권이 남아 있지 아니하였고, 회생절차개시 후에 의료비 등 채권이 추가로 발생하였더라도 그러한 채권에 대해서는 더 이상 담보권의 효력이 미치지 아니하기 때문에, 을 은행의 잔존 대출금채권은 담보목적물이 존재하지 아니하는 회생채권이라고 한 사례.
Order
상고를 기각한다. 상고비용은 원고가 부담한다.
Unofficial English translation
The appeal is dismissed. The costs of the final appeal shall be borne by the plaintiff.
Provisions referred to
[1] 채무자 회생 및 파산에 관한 법률 제56조 제1항, 제141조 제1항, 민법 제372조[양도담보] [2] 채무자 회생 및 파산에 관한 법률 제56조 제1항, 제118조, 제141조 제1항, 민법 제372조[양도담보]
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