Regional news: Japan

Japanese bitcoin exchange seeks rehabilitation recognition

The foreign representative of Japanese bitcoin exchange MtGox has asked a Texas bankruptcy court to modify a Chapter 15 recognition order after its Japanese insolvency proceedings shifted from a bankruptcy to a rehabilitation action.

29 October 2018

Japanese and Korean judges join JIN as Ontario endorses court-to-court guidelines

The Judicial Insolvency Network’s advance has continued apace, with courts in Japan and South Korea nominating four “observers” to the network, while a group of lawyers and financial advisors in Ontario have endorsed its guidelines on court-to-court communication and cooperation.

07 February 2018

Takata requests Chapter 15 protection in Delaware

The parent and two affiliates of Japanese car part manufacturing group Takata have filed for Chapter 15 protection in Delaware, just over a month after the company's US arms filed a Chapter 11 petition in the same bankruptcy court.

10 August 2017

Weil advises as Toshiba nuclear unit files Chapter 11 case in New York

US nuclear group Westinghouse Electric, part of the Japanese conglomerate Toshiba, has filed for bankruptcy protection in New York, hiring counsel from Weil Gotshal & Manges.

29 March 2017

US court maintains putative class action over defunct bitcoin exchange

A US district court has rejected a Japanese bank’s motion to dismiss a putative class action lawsuit alleging that it unjustly profited while managing an account for the now-bankrupt Japanese bitcoin exchange Mt Gox – once the world’s largest such exchange.

31 August 2016

The III arrives in Asia

Increasing creditor participation in typically debtor-friendly Japan; new out-of-court workout rule rules in China and Korea; and Singapore’s recently announced ambition to become an international debt restructuring hub were all topics of discussion when the International Insolvency Institute (III) hosted its first-ever conference in Asia in June.

15 August 2016

The man who's done it all: an interview with Dr Shinjiro Takagi

Widely regarded as the father of Japan’s modern insolvency and restructuring laws, Dr Shinjiro Takagi has been a lawyer, a judge, an academic and an adviser to a multimillion-pound corporation. Now, at 80, he’s jetting off to pursue fresh professional interests with the law firm Morgan Lewis – outside of Japan.

01 August 2016

Singapore court recognises BVI companies' Japanese insolvency proceedings

UPDATED: The Singapore Supreme Court has recognised a Japanese trustee appointed over a pair of British Virgin Islands-incorporated medical companies, affirming for the first time that bankruptcy proceedings in a company’s centre of main interests, but outside its place of incorporation, can be recognised in the city-state.

14 June 2016

TOKYO: III celebrates a day of firsts

At its first conference in Asia this week, the International Insolvency Institute (III) presented its inaugural founder’s award to octogenarian Japanese former judge Shinjiro Takagi, ahead of his forthcoming move to Singapore to help it become an international debt restructuring hub.

06 June 2016

Norwegian shipper liquidates after Japanese creditors veto restructuring plan

A Norwegian shipping company has entered liquidation after a group of Japanese creditors vetoed its restructuring plan and tried to reverse the sale of its subsidiary for an allegedly reduced price.

07 March 2016

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