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Commercial Act — Article 511 (Lawsuit for Revocation by Bond Administration Company)

상법 제511조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) If payment, settlement or any other process made by a company to a certain bondholder is considerably unfair, a bond administration company may demand the revocation thereof, only by lawsuits. <Amended by Act No. 10600, Apr. 14, 2011>

(2) A lawsuit under paragraph (1) shall be filed within six months from the date a ground for revocation has been brought to the attention of the bond administration company, and within one year from the date such act was committed. <Amended by Act No. 10600, Apr. 14, 2011>

(3) The provisions of Article 186 of this Act and the proviso to Article 406 (1) and Article 407 of the Civil Act shall apply mutatis mutandis to lawsuits under paragraph (1).

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