Land Auction – PART 2

Manager Kang gave a report to Gun-Ho on the vacant lot in Gangdong District after he had visited the land.

"There are two people who have ownership interests in the property. One of them defaulted on a debt, and that's why the property appeared on the auction market."

"Do you think it is possible that they might cancel the auction?"

"There are many creditors including secured creditors, and there is a lawsuit against one of the owners to seize the land to pay the debt. So, I believe it would be very difficult to cancel the auction."

"Hmm, I see. Oh, I forgot to tell you that the owner of the land is a 80 years old man."

"Do you want me to find and meet him?"

"No, not yet. We can contact him after we get the property by the auction, well if we could get the property."

"Okay."

"Is there a tenant?"