일본의 사적기업정리에 관한 고찰

The financial Crisis has brought numerous changes to corporate restructuring in Japan market. Before the Crisis, the Japanese government played a major role in dealing with the insolvent enterprises. Recently in Japan, there are some kind of Private Corporate Reorganization has arisen; that is Corporate Reorganization Guidelines, Business Regenerate ADR,The previous procedure of composition for insolvency and liquidation became impractical due to the complicated procedure and the lack of specific knowledge for restructuring by the public administrative officials. As this procedure was unsuitable for prompt normalization of the financial market during the Crisis, a new solution was needed and the answer was Private Corporate Reorganization. Private Corporate Reorganization is thus a process of settlement and discussion in which the creditor financial institutions and the debtor corporation contract a corporate reorganization agreement in order to normalize the corporation by readjusting the repayment plan and restructuring. Private Corporate Reorganization is a private agreement that lacks a court's binding enforcement, but many codes are being revised to incorporatePrivate Corporate Reorganization as a dependable method of corporate restructuring.