When a trustee creates a plan for reorganization of a corporation, he or she does not need to follow the absolute priority rule. Instead, the trustee can create plan that allows the priority and the junior creditor to recoup a portion of their losses, as long as the junior creditor is not repaid on terms that are the same or better than the priority creditor. For example, a plan might call for the priority creditor to receive 90% of his or her debt while the rest of the company’s assets are used to satisfy the debts of the junior creditors.
Foreign couples that live in Japan are allowed to marry in Japan just as any ordinary Japanese citizen would be allowed to. The foreign couple needs to register their marriage at the local government office and both parties will need to submit a certificate of legal capacity to marry along with Japanese translations. Completing these procedures will legally marry the couple under Japanese law.
The goals of the Japan Legal Support Center (JLSC) extend beyond providing legal support to financially disadvantaged individuals. Another important goal of the JLSC is helping victims of crimes by providing support and acting as a referral agency to help victims and their families deal with the multitude of legal issues that they face. The JLSC can provide information regarding the criminal justice system and the potential for recovery of damages. If necessary, the JLSC can also refer crime victims to an attorney to help them with their case or potentially help the client by advancing legal fees if the […]
Naturally, when contemplating arbitration, each party will want to nominate as many arbitrators to the panel as possible to increase their chances of obtaining a favorable outcome. If one side gets to pick all of the arbitrators to a dispute, it is more likely that the dispute will be resolved in their favor. However, arbitration agreements that grant too much power to only one party are invalid and therefore, clauses granting one party unilateral power to appoint arbitrators is invalid under Japanese law.