| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2016: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2015: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2014: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Outline of Final Research Achievements |
Gaining a new financing in insolvency proceedigs is critical for the success of debtor's rehabilitation. Therefore, the Japanese insolvency laws give priority over general creditors to new lenders. However, in practice, a debtor often has difficulty in finding a new lender because of lack of sufficient assets to give as security. Therefore, some people insist that the Japanese insolvency law should give "super priority" to a new lender, following the practice in the USA in order to facilitate a new financing. However, considering the fact that a new lender with super priority sometimes prefers liquidation to rehabilitation, it is desirable to have a new institution where either a court or creditors may monitor conditions of the new financing.
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