Article 108Participation in Proceedings by Holders of Right of Separate Satisfaction
第百八条（別除権者等の手続参加）
With regard to a claim secured by a security interest prescribed in Article 65, paragraph (2) which pertains to the right of separate satisfaction, a holder of a right of separate satisfaction may exercise their right as a bankruptcy creditor only for the amount of the claim for which payment cannot be received by exercising the right of separate satisfaction; provided, however, that if the amount of the claim secured by the security interest is no longer secured in whole or in part after the commencement of bankruptcy proceedings, the holder of the right of separate satisfaction is not precluded from exercising their right as a bankruptcy creditor for the whole or part of the amount of the claim.
The preceding paragraph also applies to a person that holds a special statutory lien, pledge, or mortgage on the bankrupt's property that does not belong to the bankruptcy estate or a person that holds a bankruptcy claim in the previous bankruptcy proceedings when an additional order commencing bankruptcy proceedings is issued against the bankrupt.
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(Participation in Proceedings by Holders of Right of Separate Satisfaction)
With regard to a claim secured by a security interest prescribed in Article 65, paragraph (2) which pertains to the right of separate satisfaction, a holder of a right of separate satisfaction may…
別除権者は、当該別除権に係る第六十五条第二項に規定する担保権によって担保される債権については、その別除権の行使によって弁済を受けることができない債権の額についてのみ、破産債権者としてその権利を行使することができる。
Open this provision(Right of Separate Satisfaction)
If property that is the subject matter of a security interest (meaning a special statutory lien, pledge, or mortgage; the same applies below in this paragraph) no longer belongs to the bankruptcy…
担保権（特別の先取特権、質権又は抵当権をいう。以下この項において同じ。）の目的である財産が破産管財人による任意売却その他の事由により破産財団に属しないこととなった場合において当該担保権がなお存続するときにおける当該担保権を有する者も、その目的である財産について別除権を有する。
Open this provisionbankruptcy proceedings
「破産手続」
The proceedings under Chapter II onward, except Chapter XII, for liquidating a debtor's property, inherited property (相続財産) or trust property (信託財産).
Defined inArticle 2, paragraph (1)· applies throughout the law
bankrupt
「破産者」
A debtor against whom an order commencing bankruptcy proceedings has been made under Article 30, paragraph (1).
Defined inArticle 2, paragraph (4)· applies throughout the law
bankruptcy claim
「破産債権」
A claim on property against the bankrupt (破産者) arising from a cause that occurred before bankruptcy proceedings began, including the claims Article 97 lists, that is not a claim on the estate (財団債権).
Defined inArticle 2, paragraph (5)· applies throughout the law
bankruptcy creditor
「破産債権者」
A creditor who holds a bankruptcy claim (破産債権).
Defined inArticle 2, paragraph (6)· applies throughout the law
right of separate satisfaction
「別除権」
The right of a person who, when bankruptcy proceedings begin, holds a special statutory lien (特別の先取特権), pledge (質権) or mortgage (抵当権) over property of the bankruptcy estate (破産財団) to enforce it against that property outside the bankruptcy proceedings, as Article 65, paragraph (1) allows.
Defined inArticle 2, paragraph (9)· applies throughout the law
holder of a right of separate satisfaction
「別除権者」
A person who holds a right of separate satisfaction (別除権).
Defined inArticle 2, paragraph (10)· applies throughout the law
bankruptcy estate
「破産財団」
The bankrupt's (破産者) property, inherited property (相続財産) or trust property (信託財産) that the bankruptcy trustee (破産管財人) has the exclusive right to administer and dispose of in bankruptcy proceedings.
Defined inArticle 2, paragraph (14)· applies throughout the law
security interest
「担保権」
In Article 65, paragraph (2), a special statutory lien (特別の先取特権), pledge (質権) or mortgage (抵当権).
Defined inArticle 65, paragraph (2)· applies only in this paragraph
statutory lien
先取特権
A right the law itself gives certain creditors to be paid out of the debtor's property ahead of other creditors (Civil Code, Article 303). Some reach all of the debtor's property, such as a claim arising from employment (Article 306, item (ii)); others reach particular property only, such as a landlord's claim for rent and other debts under a lease of land or a building, which reaches, for land, the movables furnished to it or to a building used with it, the movables used on it and the crops or other fruits of it the tenant holds, and for a building, the movables the tenant has furnished it with (Articles 311 to 313). The Act on Land and Building Leases gives a landowner one over the tenant's building on the land for the last two years' rent that has fallen due (Article 12, paragraph (1)), which keeps its effect by the registration of the superficies or the land lease (Article 12, paragraph (2)).
Written by AI using Civil Code, Arts. 303, 306, 311, 312, 313 and Act on Land and Building Leases, Art. 12 as a reference.