Posts Tagged ‘DIP’

Business transfers in minjisasei proceedings

January 25, 2010  |  Corporate Recovery  |  No Comments

Deserted buildings in uninhabited Japanese island of Gunkanjima

Advantages of a business transfer in minjisasei proceedings

In the law relating to minjisaisei proceedings there are regulations that allow easy and rapid procedures for business transfers.  In contrast mergers, corporate splits, Japanese law share for share exchanges – kabushiki koukan, 株式交換 – have to be carried out under the reconstruction plan.   A business transfer can be accomplished after the application to commence minjisaisei proceedings without the approval of a shareholder’s meeting but with the approval of the court.

In addition to helping prevent business operations from degrading and allow the business itself to be rebuilt with greater ease the business transfer has a number of other advantages. Read More