Shin v. Superior Court
California Court of Appeal
26 Cal. App. 4th 542 (1994)
Korea First Bank (KFB) (plaintiff) made a loan to Dong Suk Shin (defendant). In exchange, Shin issued KFB a promissory note secured by a deed of trust on real property located in California. Shin defaulted on the note. KFB brought an action in a Korean court seeking a ruling acknowledging that Shin was indebted to KFB under the note and allowing KFB to attach a prejudgment lien on Shin’s real property located in Korea. The Korean court granted the prejudgment lien, compromising Shin’s ability to liquidate the Korean real property. KFB then filed an action in California to foreclose on the real property located in California. Shin argued that KFB violated § 726 of the California Code of Civil Procedure by filing its action in the Korean court before filing its foreclosure action in California. The trial court granted KFB summary judgment on the issue, ruling that KFB had not violated § 726. Shin appealed.
Rule of Law
Holding and Reasoning (Vogel, J.)
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