Regional news: Japan
INSOL International, Tokyo: Judges on restructuring without borders – protectionism vs universalism
Where did the Gibbs rule come from? How have certain courts allowed parties to get around it? And what are the sticking points for obtaining recognition of foreign restructuring or insolvency judgments in jurisdictions like Hong Kong and the US? An illustrious panel of international judges gave attendees at INSOL’s Tokyo conference their insights – and a brief history lesson.
26 October 2023
INSOL International, Tokyo: navigating the new global economic order in era of rapid change
The era of zero interest rates, during which debt has skyrocketed and asset prices have ballooned, is gone – and it’s never coming back. A panel of economists and bankers at INSOL International’s annual conference in Tokyo said the future looks turbulent without an acceleration in workforce productivity, as they advised insolvency practitioners to keep up with the new global economic order.
06 October 2023
Privy Council stays Cayman winding-up in favour of arbitration
The Privy Council in London has held that a Cayman winding up petition against the operator of a billion-dollar Chinese convenience store business should be stayed because the matters at the heart of the petition fall within the scope of a Beijing-seated arbitration clause.
25 September 2023
IWIRC reveals Asia Women of the Year for 2023
The International Women's Insolvency and Restructuring Confederation has named Nishimura & Asahi partner Yuri Sugano as its Asia Woman of the Year in Restructuring for 2023, at its first international conference outside North America.
19 September 2023
Business turnaround following the covid-19 pandemic in Japan
Featured in Asia-Pacific Restructuring Review 2024
15 September 2023
INSOL Tokyo: Atkins’ term extended as focus turns to 2030 plan’s implementation
INSOL International’s president Scott Atkins is extending his term to see through a strategic plan launched last year to reimagine the organisation to 2030. In his opening remarks at INSOL’s first annual conference in Japan, he said the plan’s implementation had “rapidly advanced”, announcing two new regional advisory councils and a soon-to-be-launched ThinkTank.
12 September 2023
Canadian theme park ride creator rolls into bankruptcy
A Toronto-listed roller coaster manufacturer that builds rides for Disney and Universal Studios resorts in the US, Japan and China has sought Chapter 15 relief in Texas while it negotiates a sale to its debtor-in-possession lender.
18 May 2023
Norton Rose Fulbright adds from Clifford Chance in Japan
Norton Rose Fulbright has added a new partner in Tokyo from Clifford Chance, allowing the firm to offer Japanese law advice for the first time.
01 March 2023
Foreign banks and investors accused of “aiding” FTX fraud in Miami suit
An FTX customer has launched a class-action in Florida against several prominent US and foreign entities – including Singapore’s state-owned wealth fund Temasek Holdings and Japan’s Softbank – who he accuses of “aiding and abetting” the collapsed crypto group’s alleged US$8 billion Ponzi scheme.
23 February 2023
Marelli: a first-of-its-kind restructuring in Japan
After representing automotive supplier Marelli in the first-ever use of simplified rehabilitation proceedings to cram down minority creditors in Japan, Jones Day partner Chris Ahern and Mori Hamada & Matsumoto partner Dai Katagiri and senior associate Ryo Kawabata tell GRR why the company was well-suited to being a test case and discuss Japan's plans to enact new laws to tackle potential drawbacks highlighted by the case.
11 January 2023