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Corporate Rehabilitation / Bankruptcy

The Japanese economy is said to have escaped from a long period of stagnation which followed the collapse of the bubble economy. However, only a limited number of corporations have benefited from the economic recovery. Many corporations have yet to completely escape from deteriorating management amidst the distortions of the Japanese economy in which there has been a growing economic gap between major corporations and small to medium sized enterprises, and a growing regional gap between city and country regions. Support for rehabilitation of such corporations, as well as advice to creditors of such corporations forms one pillar of our business.

At Hayabusa Asuka Law Offices, we have utilized our accumulated know-how regarding corporate rehabilitation and our legal, accounting and tax knowledge to undertake the first case of adoption of the par value evaluation method of receivables at the Tokyo District Court, as well as to implement proposals for rehabilitation plans with the cooperation of sponsors and financial agency creditors utilizing corporate restructuring, debt waivers, debt equity and debt debt swap. Where necessary we have supported corporate rehabilitation with the cooperation and utilization of the Industrial Activity Revitalization Law, Private Liquidation Guidelines, RCC's Revitalization Scheme and Small and Medium Enterprise Revitalization Support Associations and have in recent years given advice on organizational restructuring and recapitalization to strengthen businesses.

Furthermore our law office has handled a large number of cases involving legal rehabilitation procedures under the Civil Rehabilitation and Corporate Rehabilitation Laws as well as legal liquidation procedures including bankruptcy and special liquidations.

We have handled numerous cases as attorneys for the filing side. With our solid results in bankruptcy cases, we have a wealth of experience in this field, acting on numerous occasions as bankruptcy administrators, rehabilitation administrators, and oversight commissioners for small and large corporations at the request of the courts.

Furthermore, with the backing of our experience in these cases, we have also given advice on procedures in connection with rehabilitation and liquidation procedures from the position of creditors.

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