Bankruptcy Act

A bankruptcy trustee must strive to provide a person that has a claim for salary or claim for retirement allowance, both of which are bankruptcy claims, with information necessary for their participation in the bankruptcy proceedings.

A bankruptcy trustee may receive advance payments of expenses and remuneration determined by the court.

An immediate appeal may be filed against an order made pursuant to the provisions of the preceding paragraph.

The provisions of the preceding two paragraphs apply mutatis mutandis to a bankruptcy trustee representative.

A bankruptcy trustee must submit a report of account to the court without delay upon the termination of their duties.

In the case referred to in the preceding paragraph, if there is a vacancy in the office of the bankruptcy trustee, the report of account stated in that paragraph must be submitted by a successor bankruptcy trustee, notwithstanding the provisions of that paragraph.

In the case referred to in paragraph (1) or the preceding paragraph, the bankruptcy trustee stated in paragraph (1) or the successor bankruptcy trustee stated in the preceding paragraph must file a petition stated in the main clause of Article 135, paragraph (1) for the purpose of making a report of account to a creditors' meeting upon the termination of the bankruptcy trustee's office.

The bankrupt, a bankruptcy creditor, or successor bankruptcy trustee (excluding the successor bankruptcy trustee stated in paragraph (2)) may make an objection to the report of account stated in paragraph (1) or paragraph (2) on the date of a creditors' meeting convoked upon the petition stated in the preceding paragraph.

There must be an interval of three days or more between the date of a creditors' meeting stated in the preceding paragraph and the date of submission of a report of account under the provisions of paragraph (1) or paragraph (2).

If an objection stated in paragraph (4) is not made on the date of a creditors' meeting stated in that paragraph, it is deemed that the account stated in paragraph (1) or paragraph (2) has been approved.

In the case referred to in paragraph (1) or paragraph (2) of the preceding Article, the bankruptcy trustee stated in paragraph (1) of that Article or the successor bankruptcy trustee stated in paragraph (2) of that Article may file a petition to the court for making a report of account in writing, in lieu of filing a petition stated in paragraph (3) of that Article.

The court must give a public notice to the effect that the report is submitted and that any objection to the account should be made within a specified period of time, when a petition has been filed pursuant to the provisions of the preceding paragraph and a report of account has been submitted pursuant to the provisions of paragraph (1) or (2) of the preceding Article. In this case, this period may not be shorter than one month.

The bankrupt, a bankruptcy creditor, or successor bankruptcy trustee (excluding the successor bankruptcy trustee stated in paragraph (1)) may make an objection to the account stated in paragraph (1) or paragraph (2) of the preceding Article within the period stated in the preceding paragraph.

If an objection stated in the preceding paragraph is not made within the period stated in paragraph (2), it is deemed that the account stated in paragraph (1) or paragraph (2) of the preceding Article has been approved.

Upon the termination of a bankruptcy trustee's duties, if there are pressing circumstances, the bankruptcy trustee or their successor must make a necessary disposition until a successor bankruptcy trustee or the bankrupt is able to administer the property.

If an order of reversal of an order commencing bankruptcy proceedings or an order of discontinuance of bankruptcy proceedings becomes final and binding, a bankruptcy trustee must pay claims on the estate; provided, however, that with regard to a claim on the estate which is in dispute in terms of its existence or nonexistence or its amount, a bankruptcy trustee must deposit with an official depository in the interest of the person that holds the claim.

The court may make a disposition to order that a debtor's property be administered by a temporary administrator until the order is made on the petition to commence bankruptcy proceedings upon the petition of an interested person or by its own authority if the petition to commence bankruptcy proceedings is filed, when the debtor (limited to a corporation; the same applies below in this Section, Article 148, paragraph (4), and Article 152, paragraph (2)) administers and disposes of their property in an inappropriate manner or the court otherwise finds it particularly necessary to do so for securing the debtor's property,.

The court must order for temporary administration appoint one or more temporary administrators under the order for temporary administration when making a disposition under the provisions of the preceding paragraph (referred to below as a "order for temporary administration").

The provisions of the preceding two paragraphs apply mutatis mutandis if an immediate appeal stated in Article 33, paragraph (1) is filed against an order dismissing a petition to commence bankruptcy proceedings.

The court may change or reverse an order for temporary administration.

An immediate appeal may be filed against an order for temporary administration or an order made under the provisions of the preceding paragraph.

The immediate appeal stated in the preceding paragraph does not have the effect of stay of enforcement.

When the court has issued an order for temporary administration, it must give a public notice to that effect. The same applies when the court issues an order to change or reverse an order for temporary administration.

The provisions of Article 10, paragraph (4) do not apply to the case referred to in paragraph (1).

When an order for temporary administration is issued, the right to administer and dispose of the debtor's property (irrespective of whether it exists in Japan) is vested exclusively in a temporary administrator; provided, however, that a temporary administrator must obtain permission of the court in order to conduct any act that does not fall within the scope of the debtor's ordinary business.

Any act conducted without the permission stated in the proviso to the preceding paragraph is invalid; provided, however, that this may not be asserted against a third party in good faith.

The provisions of Article 78, paragraphs (2) through (6) apply mutatis mutandis to a temporary administrator.

Upon the termination of their duties a temporary administrator must make a report of account to the court in writing without delay.

In the case referred to in the preceding paragraph, if there is a vacancy in the office of a temporary administrator, the report of account stated in the same paragraph must, notwithstanding the provisions of that paragraph, be submitted by a successor temporary administrator or a bankruptcy trustee.

If necessary, a temporary administrator may appoint one or more temporary administrator representatives on their own responsibility, in order to have them perform their duties.

The appointment of a temporary administrator representative under the provisions of the preceding paragraph requires a permission of the court.

The provisions of Article 40 apply mutatis mutandis to a request made by a temporary administrator, the provisions of Article 47, Article 50, and Article 51 apply mutatis mutandis when an order for temporary administration is issued, the provisions of Article 74, paragraph (2), Article 75, Article 76, Article 79, Article 80, Articles 82 through 85, Article 87, paragraphs (1) and (2), and Article 90, paragraph (1) apply mutatis mutandis to a temporary administrator, and the provisions of Article 87, paragraphs (1) and (2) apply mutatis mutandis to a temporary administrator representative. In this case, the phrase "public notice under the provisions of Article 32, paragraph (1)" in Article 51 is deemed to be replaced with "public notice under the provisions of Article 92, paragraph (1)", and the term "successor bankruptcy trustee" in Article 90, paragraph (1) is deemed to be replaced with "successor temporary administrator or a bankruptcy trustee".

With regard to an action relating to a debtor's property and a case relating to a debtor's property that is pending before an administrative agency, the provisions specified in the following items apply mutatis mutandis in the cases stated in the respective items:

when an order for temporary administration is issued:Article 44, paragraphs (1) through (3); and

when an order for temporary administration ceases to be effective (excluding cases in which an order commencing bankruptcy proceedings is made):Article 44, paragraphs (4) through (6).