Too Hot to Handle: Extinguishing Secured Creditors’ Interests in Insolvency under Japan’s Civil Rehabilitation Law

Abstract

I.   Introduction: The Limits of Insolvency Law?
II.  Upsetting Historical Treatment of Security Interests
A.  Traditional Focus on Secured Creditors’ Rights in Insolvency Law Procedures
B.  Treatment of Secured Creditors under the Civil Rehabilitation Law
III.   Overview of the Scheme in the Civil Rehabilitation Law
A.  Outline of the Scheme
B.  Origins of the Scheme
C.  Precedents for the Scheme
D.  Technical Issues
IV.  Failure of the Scheme?
A.  Use of the Scheme since 2000
B.  Lack of Opposition to the Scheme
V.   Conclusion