| Budget Amount *help |
¥1,500,000 (Direct Cost: ¥1,500,000)
Fiscal Year 2005: ¥400,000 (Direct Cost: ¥400,000)
Fiscal Year 2004: ¥1,100,000 (Direct Cost: ¥1,100,000)
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| Research Abstract |
Japanese legal system of insolvency has largely revised in recent years. This research focuses on the effects of insolvency of a contractor on contract law under the new system. The new insolvency law has modernized the situation of insolvency of a party of various contracts. However, some problems remain to be resolved.
Firstly, the disposal of future rent by a landlord to his creditor is now admitted almost freely. It must be examined the influences of the disposal for long-term on social welfare.
Secondly, the treatment of executory contract, especially, the scope of power of termination of trustee is to be still refined. This research clarifies some factors to be considered. Moreover the protection of licensee of intellectual property in case of bankruptcy of licensor is required. Some possible systems are examined in this research.
The avoiding power of a trustee has also been revised in order to improve the status of a party who helped an insolvent before the commencement of proceeding. The influence of this revision on the avoiding power of a creditor (Civil Code art.424) must be analyzed. This research clarifies some problems.
Finally, Japanese Trust Act is going to be totally revised (related bills are now under consideration of the Diet). The new Act creates a system of bankruptcy of a trust property. This research examined some points.
Each remaining problem concerns a basic problem, that is, the relation between the laws of contract and insolvency. To resolve this problem, we have to harmonize some principles at each stage of debtor in difficulty. Freedom of contract, equity, equality of creditors, efficiency of insolvency system, and social welfare are these principles.
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