Before attempting to enforce a debt in Japan, it is important to confirm the basic information about the debtor. This includes confirming any address or contact information that may be outdated or incorrect.
Bankruptcy is a judicial process by which a debtor’s assets are divided among his or her creditors to pay off as much of the debtor’s debt as possible. To achieve these ends, the debtor’s assets will be converted to money in order to be fairly divided among creditors.
Corporate reorganization is a process by which a company can petition the court to help it meet its debt obligations. The court will appoint professionals such as trustees and examiners to work with the company and its creditors to find a way to keep the company afloat. The main focus of corporate reorganizations is usually on preserving as many jobs as possible and maintaining a stable continuation of the company.