Preface

In Japan, insolvency procedures provide the means by which a financially troubled corporation or individual (the debtor) can arrange the payment of debts from a limited pool of assets in an organized manner. Japan, like many other jurisdictions in the world have seen the wisdom in having an organized framework for handling such situations in order to prevent the destructive outcomes that would result by allowing the different parties in such circumstances to take an "every person for themselves" approach. In an insolvency situation, the debtor is the party who ...