신탁재산의 유동화에 있어 사해신탁취소권과 도산절연 부인권에 대한 고찰

Once new trust is created, the created trust asset is insulated from the truster and any bankruptcy of the trustee, while it does not belong to the truster’s asset. Hence, the general creditor of truster and trustee are not able to collect a debt from the trust asset which has a strong legal advantage by an independent protection regardless of any bankruptcy or reorganization process. However, this advantage will be effective only on the assumption that the trust was established without any flaws during the establishing process. When a fraudulent act happens, a creditor or a bankruptcy administrator can revoke fraudulent act or fraudulent trust and incapacitate the effect of insulation from bankruptcy by means of a right to deny. That’s why it is required to apply a law for a harmony of benefit and balance among truster, trustee, creditor and administrator to avoid abuse of a right from each interested parties. If the rule of enforcing a law is not definite, it could be difficult to secure a legal stability due to many victims. Our trust law and the Supreme Court precedents have constantly recognized the interest of trust and assured the protection and independence of the trust asset up to date. This study reviewed the Supreme court precedents and legal experts’ opinions, then proposed an alternative about the issue.