Civil Rehabilitation Law

Civil Rehabilitation Law

A bankruptcy law in Japan allowing a company to force a lender to change the terms of the loan in order to alleviate the company's bad debt. The law was enacted in 2000 in the wake of the Asian financial crisis.
References in periodicals archive ?
Incubator Bank is currently undergoing Civil Rehabilitation Law proceedings, and DIC, which is acting as the bank's government-appointed administrator, will likely begin a selection of sponsors later this month.
29 with the Sapporo District Court under the civil rehabilitation law.
said Wednesday its affiliated golf course operator, Sanyo Sky Resort, filed for court protection from creditors under the Civil Rehabilitation Law, effectively going under with debts of 11.
The government is actively promoting revitalization, with the earlier passage of a Civil Rehabilitation Law, the Industrial Revitalization Corporation of Japan (IRCJ) with a budget of JPY10 trillion for revitalization companies, METI's revitalization program, and the Development Bank of Japan's investing in private sector buyout funds.
The builder emerged from the Civil Rehabilitation Law program in June, allowing president Nakajo to adopt a new and somewhat more aggressive business strategy.
The firm, listed on the Second Section of the Tokyo Stock Exchange, and its subsidiary filed for protection from creditors at the court May 29 under the Civil Rehabilitation Law with a combined 3.
Nine hundred seventeen companies filed for bankruptcy under the Civil Rehabilitation Law.
The Japanese airline - known as Air Do - filed for bankruptcy on 25 June 2002 under the Civil Rehabilitation Law, which allows companies to file for court protection from creditors before they become insolvent.
On September 14, 2001, Mycal, Japan's fourth largest retailer and supermarket giant, shocked the country by announcing that it was filing for bankruptcy under the Civil Rehabilitation Law (Minji Saiseiho).
The new civil rehabilitation law has made court-based resolution much more accessible, and its use has indeed increased significantly since its enactment.
This edition features articles on Fitch's update to the Japanese RMBS Model, South Korea's KAMCO deal, Australian Structured deals using more ratings, and the impact of the new Civil Rehabilitation Law in Japan.
A Tokyo-based importer, which filed for bankruptcy protection under the civil rehabilitation law in late November, signed a contract with a major bank to buy $50,000 per month at a fixed rate of about 99 yen to the dollar over five years from June 2004 when the dollar traded around 110 yen.