Examples of Civil Rehabilitation Law in a sentence
Shall be deemed to occur if a competent court in Japan shall have adjudicated (i) the commencement of a corporate reorganization proceeding of Mizuho Financial Group under the Corporate Reorganization Law or (ii) the commencement of a civil rehabilitation proceeding of Mizuho Financial Group under the Civil Rehabilitation Law.
For claims to debtors who are legally bankrupt (due to bankruptcy, subject to the Japanese Civil Rehabilitation Law, suspension of transactions with banks by the rules of clearinghouses, etc.) or virtually bankrupt, the specific reserve is provided based on the amount of claims, after direct deduction described below, net of the amount expected to be collected through the disposal of collateral or execution of guarantees.
Finally, the regressions suggest that the Civil Rehabilitation Law may nevertheless be helpful in controlling suicide, at least for men, 109 See Takahashi, supra note 2, at 39; Tsutomu Yamamoto, Contemporary Social Problems in Japan: A Study of the Suicide and Depopulation Problems, 1 Int’l J.
For example, under the Corporate Reorganization Law access to collateral would be limited and crystallization would be an issue.95 On the other hand, the Civil Rehabilitation Law offers flexibility to negotiate with the debtor concerning security interests and this ameliorates the concerns about crystallization.
The Civil Rehabilitation Law focuses on corporate restructuring in contrast to liquidation, provides stronger protection of debtor assets prior to the start of restructuring procedures, eases requirements for initiating restructuring procedures, simplifies and rationalizes procedures for the examination and determination of liabilities, and improves procedures for approval of rehabilitation plans.
When companies were facing bankruptcy or revitalization, if the stockholders had decided to bring the case to court, the case would have been decided according to the Civil Rehabilitation Law and Corporate Rehabilitation Law.
For claims to debtors who are legally bankrupt (due to bankruptcy, subject to the Japanese Civil Rehabilitation Law, suspension of transactions with banks by the rules of clearinghouses, etc.) or virtually bankrupt, the specific reserve is provided based on the amount of claims, after direct deduction described below, net of the amount expected to be collected through the disposal of collateral or execution of guarantee s.
In August 1999, the Industry Revitalization Law was enacted which was followed by the enactment of the Civil Rehabilitation Law in December 1999.31 In the arena of collective labor relations, three public corporations, the Telephone and Telecommunication Public Corporation, the Tobacco Monopoly Corporation, and the National Railway were privatized in the course of an administrative reform in the early 1980s.
STEELE, Evaluating the New Japanese Civil Rehabilitation Law, in: (2000) 2(1) Australian Journal of Asian Law 53, n 10.
Partly because of this collapse and partly because of the new legislations (particularly the Civil Rehabilitation Law and the amended Corporate Reorganization Law), early recognition and quick action on financial difficulties of companies have been enhanced.