A liquidating stock company may convert its assets into cash pursuant to the provisions of the Civil Execution Act and other laws and regulations on judicial enforcement procedures. In these cases, the provisions of Article 535, paragraph (1), item (i) do not apply.
清算株式会社は、民事執行法その他強制執行の手続に関する法令の規定により、その財産の換価をすることができる。この場合においては、第五百三十五条第一項第一号の規定は、適用しない。
A liquidating stock company may convert the assets that underlie the security interest provided for in Article 522, paragraph (2) (hereinafter in this Article and in the following Article simply referred to as "security interest") into cash pursuant to the provisions of the Civil Execution Act and other laws and regulations on judicial enforcement procedures. In these cases, a person who holds relevant security interest (hereinafter in this Article and in the following Article simply referred to as "security interest holder") may not refuse the conversion into cash.
清算株式会社は、民事執行法その他強制執行の手続に関する法令の規定により、第五百二十二条第二項に規定する担保権（以下この条及び次条において単に「担保権」という。）の目的である財産の換価をすることができる。この場合においては、当該担保権を有する者（以下この条及び次条において「担保権者」という。）は、その換価を拒むことができない。
In the cases of the preceding two paragraphs, the provisions of Article 63 and Article 129 of the Civil Execution Act (including the cases where those provisions are applied mutatis mutandis under that act and other laws and regulations on judicial enforcement procedures) do not apply.
前二項の場合には、民事執行法第六十三条及び第百二十九条（これらの規定を同法その他強制執行の手続に関する法令において準用する場合を含む。）の規定は、適用しない。
If, in the case of paragraph (2), the amount that the security interest holder is to receive is not fixed yet, the liquidating stock company must deposit the proceeds separately. In these cases, the security interest exists with respect to the proceeds so deposited.
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liquidating stock companies
「清算株式会社」
A stock company that is being wound up, which is treated as still existing for the purposes of the liquidation until the liquidation is completed.
Short name set inArticle 476, paragraph (1)
security interest
「担保権」
A special statutory lien, pledge, mortgage or right of retention over property of a stock company in special liquidation (Article 522, paragraph (2)), which the company may have converted into money under the Civil Enforcement Act or other laws on compulsory execution.
Short name set inArticle 538, paragraph (2)· applies only in this article and in Article 539
security interest holder
「担保権者」
In Articles 538 and 539, a person holding a security interest (担保権) of the kinds Article 522(2) lists — a special statutory lien (特別の先取特権), pledge (質権), mortgage (抵当権) or certain rights of retention (留置権) — over property of a stock company in special liquidation, who may not refuse the company's having that property converted into money under the Civil Enforcement Act or other laws on compulsory execution.
Short name set inArticle 538, paragraph (2)· applies only in this article and in Article 539