japanBankruptcyAct.docx

Bankruptcy ActAct No. 75 of June 2, 2004Chapter I General Provisions(Purpose)Article 1　The purpose of this Act is, by specifying the proceedings for liquidation of property held by debtors who are unable to pay debts or insolvent, etc., to appropriately coordinate the interests of creditors and other interested persons and the relationships of rights between debtors and creditors, with the aim of ensuring proper and fair liquidation of debtors property, etc. and securing the opportunity for rehabilitation of their economic life.(Definitions)Article 2　The term bankruptcy proceedings as used in