Bankruptcy Act

If an order commencing bankruptcy proceedings is issued against a debtor that is a corporation, by their own authority, the court clerk must commission the registry office with jurisdiction over the locality of the head office or principal office of the bankrupt to register the commencement of bankruptcy proceedings without delay; provided, however, that if the bankrupt is a foreign corporation which is a foreign company, the commission must be made to the registry office with jurisdiction over the place of domicile of its representative person for Japan (limited to one who has a domicile in Japan) (in the case of a foreign company that has business offices in Japan, the location of each business office), and if the bankrupt is any other foreign corporation, the registry office with jurisdiction over the locality of each of its offices must be commissioned.

The registration referred to in the preceding paragraph must include the name and address of each bankruptcy trustee; if permission under the proviso to Article 76, paragraph (1) is granted for independent performance of duties by each bankruptcy trustee, a statement to that effect; and if permission under the proviso to that paragraph is granted for division of duties among bankruptcy trustees, a statement to that effect; and the content of the duties assigned to each bankruptcy trustee must be included.

The provisions of paragraph (1) apply mutatis mutandis when there is a change to any of the particulars prescribed in the preceding paragraph.

When an order for temporary administration is issued against the debtor referred to in paragraph (1), the court clerk must commission the registry office prescribed in that paragraph to make a registration of the order for temporary administration without delay by their own authority.

The registration referred to in the preceding paragraph must include the name and address of each temporary administrator; if permission stated in the proviso to Article 76, paragraph (1) as applied mutatis mutandis pursuant to Article 96, paragraph (1) is granted for independent performance of duties by each temporary administrator, a statement to that effect; and if permission stated in the proviso of Article 76, paragraph (1) as applied mutatis mutandis pursuant to Article 96, paragraph (1) is granted for division of duties among temporary administrators, a statement to that effect; and the content of the duties assigned to each temporary administrator must be included.

The provisions of paragraph (4) apply mutatis mutandis when an order to change or reverse the judicial decision prescribed in that paragraph is made or there is a change to any of the particulars prescribed in the preceding paragraph.

The provisions of paragraph (1) apply mutatis mutandis, with regard to the bankrupt stated in that paragraph if an order of reversal of the order commencing bankruptcy proceedings or an order of discontinuance of bankruptcy proceedings becomes final and binding, or an order for completion of bankruptcy proceedings is issued.

The provisions of the preceding paragraphs apply mutatis mutandis if an order commencing bankruptcy proceedings is issued against the trust property of a limited liability trust. In this case, the phrase "the locality of the head office or principal office of the bankrupt" in paragraph (1) is deemed to be replaced with "the place of administration of affairs (meaning the place of administration of affairs prescribed in Article 216, paragraph (2) of the Trust Act) of the limited liability trust".

If an order commencing bankruptcy proceedings is issued against a debtor who is an individual, the court clerk must commission a registry office to make a registration of the commencement of bankruptcy proceedings by their own authority without delay in the following cases:

when the court clerk comes to know that there is a registration concerning the bankrupt; or

when the court clerk comes to know that there is a registered right that belongs to the bankruptcy estate.

The provisions of the preceding paragraph apply mutatis mutandis if, with regard to the bankrupt, an order to reverse the order commencing bankruptcy proceedings or an order of discontinuance of bankruptcy proceedings becomes final and binding, or an order for completion of bankruptcy proceedings is issued.

The court clerk must commission cancellation of the registration by their own authority without delay if any right with which a registration of the commencement of bankruptcy proceedings was made pursuant to the provisions of paragraph (1), item (ii) is determined by the order under Article 34, paragraph (4) as not belonging to the bankruptcy estate. The same applies when a bankruptcy trustee has waived the registered right and filed a petition for commission of cancellation of the registration.

The provisions of paragraph (1), item (ii) (including as applied mutatis mutandis pursuant to paragraph (2)) and the second sentence of the preceding paragraph apply mutatis mutandis if an order of commencement bankruptcy proceedings is issued against estate or trust property.

The provisions of paragraph (1), item (ii) apply mutatis mutandis if an order for temporary administration is issued on the trust property or if the order for temporary administration is changed or reversed.

In the following cases, the court clerk must commission a registration of the provisional order by their own authority without delay:

if a provisional order under the provisions of Article 28, paragraph (1) (including as applied mutatis mutandis pursuant to Article 33 paragraph (2)) is issued with respect to a registered right that belongs to a debtor's property; and

if a provisional order under the provisions of Article 171, paragraph (1) (including as applied mutatis mutandis pursuant to paragraph (7) of that Article) or of Article 177, paragraph (1) or (2) (including as applied mutatis mutandis pursuant to paragraph (7) of that Article) is issued with respect to a registered right.

The provisions of the preceding paragraph apply mutatis mutandis if the provisional order prescribed in that paragraph is changed or reversed or the provisional order ceases to be effective.

When an act constituting the cause of registration is avoided, a bankruptcy trustee must apply for a registration of avoidance. The same applies when a registration is avoided.

When making a registration on a right pertaining to the registration of avoidance referred to in the preceding paragraph, a registrar must cancel the following registrations by their own authority:

registration of the avoidance in question;

registration arising from the avoided act as the cause of registration, or the avoided registration; and

any subsequent registration made after the registration stated in the preceding item.

In the case prescribed in the preceding paragraph, after an avoided act was made but before the registration of avoidance is made, if the registration whose subject matter is the right pertaining to the registration stated in item (ii) of that paragraph is made with respect to a third party's right (limited to the right whose effect may be asserted in relation to bankruptcy proceedings), notwithstanding the provisions of that paragraph, a registrar must cancel the registration of avoidance and make the registration of the transfer of the right pertaining to the registration stated in that item to the bankrupt by their own authority.

When a registration of avoidance referred to in paragraph (1) is made, with regard to the bankrupt, if an order of reversal of the order commencing bankruptcy proceedings or an order of discontinuance of bankruptcy proceedings becomes final and binding, or an order of termination of bankruptcy proceedings is made, the court clerk must commission cancellation of the registration of avoidance by their own authority without delay. The same applies if a bankruptcy trustee has waived the right related to the registration stated in paragraph (2), item (ii) and has filed a petition for commission of cancellation of the registration of avoidance.

Registration and license tax is not imposed on the registrations under the provisions of Article 257 through the preceding Article.

The provisions of Article 258, paragraph (1), item (ii) and the provisions of that item as applied mutatis mutandis pursuant to paragraph (2) of that Article (including as applied mutatis mutandis pursuant to paragraph (4) of that Article), the provisions of paragraph (3) of that Article (including cases in which the provisions of the second sentence of paragraph (3) of that Article is applied mutatis mutandis pursuant to paragraph (4) of that Article), and the provisions of the preceding three Articles apply mutatis mutandis to the registered rights.

If an order of discontinuance of limitation of liability proceedings is issued with regard to the limitation of liability proceedings commenced in the interest of the bankrupt, bankruptcy proceedings are suspended until the order becomes final and binding.

If an order of discontinuance of limitation of liability proceedings has become final and binding with regard to the limitation of liability proceedings commenced in the interest of the bankrupt, the court must specify a period during which a proof of the claims should be filed and a time period for conducting an investigation of the claims in the interest of holders of claims under limitation.

The court must give a public notice of the period or date specified under the provisions of the preceding paragraph.

Known holders of claims subject to limitation must be notified of the particulars which should be given a public notice pursuant to the provisions of Article 32, paragraph (1), items (i) and (ii) and the preceding paragraph.

A bankruptcy trustee, the bankrupt, and holders of filed bankruptcy claims must be notified of the particulars which should be given public notice pursuant to the provisions of paragraph (2); provided, however, that if the period or date for conducting an investigation of claims specified under the provisions of paragraph (1) (when the period or date is changed, the changed period or date) is the same as the period or date specified under the provisions of Article 31, paragraph (1), item (iii), notification is not required to be given to holders of filed bankruptcy claims.

The provisions of the preceding three paragraphs apply mutatis mutandis when the period during which a proof of claims should be filed as specified under the provisions of paragraph (1) is changed, the provisions of Article 118, paragraphs (3) through (5) apply mutatis mutandis when an order to change the period for conducting an investigation of claims specified under the provisions of paragraph (1) is made, the provisions of Article 121, paragraphs (9) through (11) apply mutatis mutandis pursuant when an order to change the date for conducting an investigation of claims specified under the provisions of paragraph (1) is made or an order to postpone or continue the investigation of claims on that date is made. In this cases, the term "a bankruptcy trustee" in Article 118, paragraph (3) and Article 121, paragraph (9) is deemed to be replaced with "holders of filed claims subject to limitation (or known holders of claims subject to limitation before the expiration of the period during which notification of claims should be filed as specified under the provisions of Article 264, paragraph (1)), a bankruptcy trustee", and the term "a bankruptcy trustee" in Article 121, paragraph (10) is deemed to be replaced with "holders of filed claims subject to limitation, a bankruptcy trustee".

The provisions of Article 31, paragraphs (2) and (3) apply mutatis mutandis to the period and date prescribed in paragraph (1).