Debt Collection

March 29, 2017

Is it necessary to have a foreign judgment before collecting a debt in Japan?

Having a judgment against a debtor is one of the most solid pieces of evidence of a debt that a creditor can produce.  However, obtaining a judgment against a debtor can often be a time consuming and expensive process, regardless of where the lawsuit was filed.  Therefore, it sometimes is more efficient for the creditor simply to attempt to enforce the debt without first obtaining a court judgment.
March 8, 2017

What is a “bankruptcy estate” in Japan?

When a debtor files for bankruptcy the court needs a way to organize all of the debtor’s belongings so that they can easily be divided up among the creditors.  Courts will do this by categorizing all of the debtor’s assets in what is called a “bankruptcy estate.”
February 13, 2017

Who petitions for a bankruptcy in Japan?

In Japan, bankruptcy petitions can be brought by a variety of parties.  The most common situation is for the debtor to file for bankruptcy personally as a way to escape payment, but this does not always happen.  When a debtor refuses to file bankruptcy, it is often left to the creditor to file for bankruptcy on behalf of the debtor and submit evidence of unpaid debt as proof that the debtor can no longer make payments on debts.
January 25, 2017

What is the purpose of notarizing a document in Japan?

The notary system in Japan is similar to the system of notarizing documents in foreign countries.  Notaries prepare notarial deeds, attest to a private deed and attest to legal documents. When two parties sign an agreement in front of a notary, the notary can provide official proof that the parties signed the document and understood what they were signing.