Chapter V Claims on the Estate

①The following claims are claims on the estate:

②If a bankruptcy trustee has received performance of a conditioned legacy, the claim held by the counterparty to whom the bankruptcy trustee bears duties to seek the benefit of the burden, is to be a claim on the estate as long as it does not exceed the target value of the bequest.

③The provisions of Article 103, paragraphs (2) and (3) apply mutatis mutandis to the claims on the estate prescribed in paragraph (1), item (vii) and the preceding paragraph. In this case, if the claim on the estate is a claim without interest or claim for periodic payments, the amount of the claim is the amount obtained by deducting an amount equivalent to the part of the claim that is a subordinate bankruptcy claim stated in Article 99, paragraph (1), items (ii) through (iv), suppose the claim is treated as a bankruptcy claim.

④A claim arising from an act conducted by a temporary administrator based on their authority with respect to a debtor's property is to be a claim on the estate.

①A claim for the salary of employees of the bankrupt for the three months preceding the commencement of bankruptcy proceedings is to be a claim on the estate.

②A claim for a retirement allowance of an employee of the bankrupt who has retired prior to the closing of bankruptcy proceedings (excluding the part of the claim that is to be a subordinate bankruptcy claim when the whole amount of the claim is treated as a bankruptcy claim) is a claim on the estate for the amount equivalent to the total amount of the employee's salary for the three months preceding the retirement (if that amount is less than the total amount of the employee's salary for the three months preceding the commencement of bankruptcy proceedings, the total amount for the three months preceding the commencement of bankruptcy proceedings).

①If a bond administrator or assistant bond administrator seeks to administer the affairs concerning the administration of corporate bonds that are bankruptcy claims, when the court finds it necessary to do so in order to ensure smooth progress of bankruptcy proceedings, it may grant permission to the effect that the bond administrator's or assistant bond administrator's claim for expenses to be incurred from the administrative work is to be a claim on the estate.

②Even if a bond administrator or assistant bond administrator has administered the affairs concerning the administration of corporate bonds that are bankruptcy claims without obtaining the permission referred to in the preceding paragraph, when it is found that the bond administrator or assistant bond administrator has contributed to ensuring smooth progress of bankruptcy proceedings, the court may grant permission to the effect that a claim for reimbursement of the expenses incurred for the administration of the affairs is to be a claim on the estate for the amount that the court finds reasonable by taking into consideration the degree of contribution.

③The court may grant permission to the effect that a bond administrator's or assistant bond administrator's claim for remuneration arising from a cause that has occurred after the commencement of bankruptcy proceedings is to be a claim on the estate for the amount that the court finds reasonable.

④A claim for which the permission obtained pursuant to the provisions of the preceding three paragraphs is to be a claim on the estate.

⑤An immediate appeal may be filed against the order of permission pursuant to the provisions of paragraphs (1) through (3).

⑥The provisions of the preceding paragraphs apply mutatis mutandis to a claim for expenses or remuneration that arises from the affairs concerning the administration of a claim stated in each of the following items, which is a bankruptcy claim, in accordance with the category of the persons stated in the respective items:

A claim on the estate is paid in preference to a bankruptcy claim.

①When it has become obvious that a bankruptcy estate is insufficient for paying the total amount of claims on the estate, the bankruptcy estate makes payment in proportion to the amount of each claim, notwithstanding any priorities specified in laws and regulations; provided, however, that this does not preclude the effect of any right of retention, special statutory lien, pledge, or mortgage that is intended to secure a claim on the estate.

②Notwithstanding the provisions of the preceding paragraph, claims on the estate stated in Article 148, paragraph (1), items (i) and (ii) (including a claim for expenses for the administration and realization of a debtor's property, which is prescribed in paragraph (4) of that Article) are paid prior to other claims on the estate in the case prescribed in the main clause of that paragraph.