Chapter VII Realization of Bankruptcy Estates (Articles 188 to 192)
The law as Act on the Arrangement of Related Acts to Promote the Use of Information and Communications Technology in Civil Procedures, etc. (Act No. 53 of 2023) leaves it, with the words it changes marked.
The main text is read a page at a time: a chapter to a page, and a long chapter in runs of articles. The whole main text, and the supplementary provisions and appended tables this amendment changes. Those it leaves untouched are on the page for the text in force.
Article 188第百八十八条
Purchase Offers（買受けの申出）
Article 188, paragraph (1)
A designated security interest holder that has an objection to the petition referred to in Article 186, paragraph (1) may make an offer to a bankruptcy trustee within the period stated in paragraph (1) of the preceding Article to the effect that the designated security interest holder or any other person will purchase the property referred to in Article 186, paragraph (3), item (i) (referred to below as a "purchase offer" in this Section).
A purchase offer must be made by means of a document stating the following particulars:
買受けの申出は、次に掲げる事項を記載した書面でしなければならない。
Article 188, paragraph (2), item (i)
the name of the person that seeks to purchase the property stated in Article 186, paragraph (3), item (i) (referred to below as the "applicant for purchase" in this Section);
the amount of money that a bankruptcy trustee can obtain from the applicant for purchase through the sale of the property referred to in Article 186, paragraph (3), item (i) (excluding the amount of money consisting of the amount of actual costs already paid or to be paid in the future from the bankruptcy estate for concluding and performing the sales contract and the amount of consumption tax, etc. to be imposed on the transfer of the property, which is to be borne by the purchase applicant under the sales contract; referred to below as the "offered purchase price" in this Section); and
if the property stated in Article 186, paragraph (3), item (i) consists of two or more pieces of property, the amount of offered purchase price allocated to each piece of property.
第百八十六条第三項第一号の財産が複数あるときは、買受けの申出の額の各財産ごとの内訳の額
Article 188, paragraph (3)
The offered purchase price must be more than the sum obtained by adding the amount of proceeds referred to in Article 186, paragraph (3), item (ii) which is stated in the written petition to the amount equivalent to one-twentieth of the amount.
If the property referred to in Article 186, paragraph (3), item (i) consists of two or more pieces of property, the amount of the offered purchase price stated in paragraph (2), item (iii) allocated to each piece of property must not be below the amount of proceeds referred to in paragraph (3), item (ii) of that Article allocated to each respective piece of property.
Upon making a purchase offer, a purchase applicant must provide a bankruptcy trustee with the guarantee of the amount and by the means specified by the Rules of the Supreme Court.
The provisions of paragraph (3) of the preceding Article apply mutatis mutandis to a purchase offer.
前条第三項の規定は、買受けの申出について準用する。
Article 188, paragraph (7)
A person that has made a purchase offer (if a person other than the person who has made the purchase offer is a purchase applicant, the purchase applicant) may withdraw the purchase offer within the period referred to in paragraph (1) of the preceding Article.
When a purchase offer is made, a bankruptcy trustee must notify the court to the effect that they will sell the property referred to in Article 186, paragraph (3), item (i) to the purchase applicant after the period referred to in paragraph (1) of the preceding Article has expired. In this case, if two or more purchase offers are made, a bankruptcy trustee must give notification to the effect that they will sell the property to the purchase applicant who has made the purchase offer with the highest offered purchase price (if there are two or more purchase offers with the highest offered purchase price, the purchase applicant who has made the first offer).
In the case referred to in the preceding paragraph, a bankruptcy trustee must submit to the court the document referred to in paragraph (2) related to the purchase offer made within the period stated in paragraph (1) of the preceding Article.
When a purchase offer is made, in order to withdraw the petition referred to in Article 186, paragraph (1), a bankruptcy trustee must obtain consent from the purchase applicant (after the order of permission stated in paragraph (1) of the following Article becomes final and binding, the purchaser prescribed in paragraph (2) of that Article).
Article 189, paragraph (1)（担保権消滅の許可の決定等）(Orders of Permission for Extinguishment of Security Interests)Changed
Except when the court issues an order of non-permission by reason that a designated security interest holder has submitted, within the period referred to in Article 187, paragraph (1), a document a document or an electronic or magnetic record that certifies their filing of thea petition for exercise of security interests within the period referred to in that Article 187, paragraph (1), it must issue an order of permission referred to in Article 186, paragraph (1), designating the person specified in each of the following items in accordance with the category stated in the respective items as the counterparty to the sale related to the permission:
when the notification prescribed in paragraph (8) of the preceding Article has not been made:the counterparty to the sale stated in Article 186, paragraph (3), item (iii); or
when the notification prescribed in paragraph (8) of the preceding Article has been made:the purchase applicant prescribed in that paragraph.
前条第八項に規定する届出がされた場合 同項に規定する買受希望者
Article 189, paragraph (2)（担保権消滅の許可の決定等）(Orders of Permission for Extinguishment of Security Interests)Changed
In the case stated in item (ii) of the preceding paragraph, when the order of permission stated in that paragraph has become final and binding, it is deemed that a sales contract withbankruptcy trustee and the same content as that statedpurchase applicant specified in the document that item (referred to in Article 186, paragraph (4) (excluding the counterpartybelow as the "purchaser" in this Section) related to the sale)permission has been concluded between the bankruptcy trustee anda sales contract with the applicant for purchase specified in that item related to same content as that stated or recorded in the document or the permission (electronic or magnetic record referred to below as in Article 186, paragraph (4) (excluding the "purchaser" in this Sectioncounter party to the sale). In this case, the offered purchase price is deemed to be the amount of proceeds under the sales contract.
When a judicial decision on the petition stated in Article 186, paragraph (1) is made, a purchase applicant (excluding the purchase applicant specified in paragraph (1), item (ii)) may withdraw the purchase offer made by them until the judicial decision becomes final and binding.
An immediate appeal may be filed against a judicial decision on the petition referred to in Article 186, paragraph (1).
第百八十六条第一項の申立てについての裁判に対しては、即時抗告をすることができる。
Article 189, paragraph (5)（担保権消滅の許可の決定等）(Orders of Permission for Extinguishment of Security Interests)Changed
When a judicial decision on the petition referred to in Article 186, paragraph (1) or a judicial decision on the immediate appeal referred to in the preceding paragraph is made, the writtenelectronic judgment must be served upon the parties concerned. In this case, the provisions of the main clause of Article 10, paragraph (3) do not apply.
When an order of permission referred to in paragraph (1) of the preceding Article has become final and binding, the counterparty to the sale related to the permission must pay to the court the amount of money specified in each of the following items in accordance with the category of the cases stated in the respective items by the due date set by the court:
in the case stated in paragraph (1), item (i) of the preceding Article:the amount specified in each item of Article 186, paragraph (1) in accordance with the category stated in the respective items; and
前条第一項第一号に掲げる場合 第百八十六条第一項各号に掲げる区分に応じてそれぞれ当該各号に定める額
Article 190, paragraph (1), item (ii)
in the case stated in paragraph (1), item (ii) of the preceding Article:the amount obtained by deducting the guaranteed amount provided by the purchaser pursuant to the provisions of Article 188, paragraph (5) from the amount of proceeds prescribed in the second sentence of paragraph (2) of that Article.
When payment of money pursuant to the provisions of item (ii) of the preceding paragraph is made, the amount of money equivalent to the amount of guarantee provided by the purchaser pursuant to the provisions of Article 188, paragraph (5) is allocated to proceeds.
In the case referred to in the preceding paragraph, a bankruptcy trustee must immediately pay to the court the amount of money equivalent to the guaranteed amount referred to in that paragraph.
前項の場合には、破産管財人は、同項の保証の額に相当する金銭を直ちに裁判所に納付しなければならない。
Article 190, paragraph (4)
In the case referred to in paragraph (1), item (i), the security interest held by a designated security interest holder is extinguished when payment of money pursuant to the provisions of paragraph (1), item (i) is made, and in the case stated in paragraph (1), item (ii), the security interest held by a designated security interest holder is extinguished when payment of money pursuant to the provisions of paragraph (1), item (ii) and payment of money pursuant to the provisions of the preceding paragraph are made.
When payment of money prescribed in the preceding paragraph is made, the court clerk must commission the cancellation of the registrations of the security interests extinguished.
If payment of money under the provisions of paragraph (1) is not made, the court must reverse the order of permission referred to in paragraph (1) of the preceding Article.
Article 191, paragraph (1)（配当等の実施）(Implementation of Distributions)Changed
When payment of money prescribed in paragraph (4) of the preceding Article is made, the court must implement the distribution according to the electronic distribution list (meaning an electronic or magnetic record prepared pursuant to the provisions of Article 85, paragraph (3) of the Civil Enforcement Act applied mutatis mutandis pursuant to paragraph (4) that has been recorded in computer files pursuant to the provisions of paragraph (5) of that Article applied mutatis mutandis pursuant to paragraph (4)) for distribution of the money to each designated security interest holder, except in the case prescribed in the following paragraph.
Article 191, paragraph (2)（配当等の実施）(Implementation of Distributions)Changed
When there is only one designated security interest holder or when there are two or more designated security interest holders and the money prescribed in paragraph (4) of the preceding Article is sufficient for paying the claims secured by the security interests held by each designated security interest holderthose holders, pursuant to the provisions of the Rules of the Supreme Court, the court prepares a an electronic statement of delivery of the money, (meaning an electronic or magnetic record prepared by the court clerk pursuant to the provisions of the Rules of the Supreme Court recording the amount of the payment money and surplus, the amounts of the principal of the claims, interest, and any other incidental claims of the claims secured by security interest held by each designated security interest holder and the order and amount of delivery of payment money so that the payment money and surplus can be delivered; the same applies in the following paragraph), and delivers the payment money to the designated security interest holders and delivers any surplus to thea bankruptcy trustee.
Article 191, paragraph (3)（配当等の実施）(Implementation of Distributions)Changed
The provisions of Articles 85 through 86 and Articles 88 through 92If the court has prepared an electronic statement of the Civil Enforcement Act apply mutatis mutandisdelivery pursuant to the procedure for distribution referred to inprovisions of the preceding paragraph (1), and , the provisions of Article 88, Article 91, and Article 92court must record the electronic statement of that Act apply mutatis mutandisdelivery in computer files pursuant to the procedure for deliveryprovisions of payment money pursuant to the provisionsRules of the preceding paragraphSupreme Court.
Article 191, paragraph (4)（配当等の実施）(Implementation of Distributions)Added
The provisions of Articles 85 through 86 and Articles 88 through 92 of the Civil Enforcement Act apply mutatis mutandis to the procedure for distribution referred to in paragraph (1), and the provisions of Article 88, Article 91, and Article 92 of that Act apply mutatis mutandis to the procedure for delivery of payment money pursuant to the provisions of paragraph (2).
Section 3 Extinguishment of Right of Retention Under the Commercial Code第三節 商事留置権の消滅
Article 192第百九十二条
Article 192, paragraph (1)
When any right of retention under the provisions of the Commercial Code or the Companies Act exists against the property that belongs to the bankruptcy estate at the time of commencement of bankruptcy proceedings, if the property is necessary for the business continued pursuant to the provisions of Article 36 or the recovery of the property otherwise contributes to maintaining or increasing the value of the bankruptcy estate, a bankruptcy trustee may make a demand to the holder of the right of retention that the right be extinguished.
In order to make a demand under the provisions of the preceding paragraph, the amount of money equivalent to the value of the property referred to in that paragraph must be paid to the holder of the right of retention referred to in that paragraph.
Permission of the court must be obtained in order to make a demand under the provisions of paragraph (1) and to make a payment prescribed in the preceding paragraph.
第一項の規定による請求及び前項に規定する弁済をするには、裁判所の許可を得なければならない。
Article 192, paragraph (4)
If the permission referred to in the preceding paragraph is granted and the amount of payment prescribed in paragraph (2) is sufficient to cover the value of the property referred to in paragraph (1), the right of retention referred to in that paragraph is extinguished at the time when the payment is made or at the time when a demand under the provisions of paragraph (1) is made, whichever occurs later.
In an action to request the return of the property stated in paragraph (1) on the grounds that the right of retention referred to in that paragraph is extinguished pursuant to the provisions of the preceding paragraph, even if the amount of payment prescribed in paragraph (2) is not sufficient to cover the value of the property, upon the plaintiff's petition and when the court in charge of the action finds it appropriate, the court may order the holder of the right of retention referred to in paragraph (1) to return the property, on the condition that the amount of any shortage is to be paid within a reasonable period of time.