民事再生 MINJI SAISEI
Civil Rehabilitation proceedings
A legal procedure taken by a company that has difficulty repaying its debts in order to avoid bankruptcy by reducing the amount of existing debts. The company itself continues to operate as before.
民事再生申立日 MINJI SAISEI MOUSHITATE-BI
Date of petition for Civil Rehabilitation
The date the petitioning attorney of the debtor company files the petition for civil rehabilitation with the court. (March 2nd for this case)
民事再生手続開始決定日 MINJI SAISEI TETSUZUKI KAISHI-KETTEI-BI
Date of court order for commencement of Civil Rehabilitation proceedings
The date on which the court receiving the petition for civil rehabilitation formally initiates the legal proceedings for civil rehabilitation (March 7th for this case)
再生債権 SAISEI SAIKEN
Claims arising prior to the date of order of commencement of civil rehabilitation proceedings.
共益債権 KYOUEKI SAIKEN
Common benefit claim
Claims arising after the date of the order of commencement of civil rehabilitation proceedings. Since it will be impossible for the company to operate if this is not repaid, it is treated like a normal transaction, and the company is obligated to repay it as promised.
共益債権化 KYOUEKI SAIKEN-KA
Changing from Rehabilitation claim to Common Benefit claim
The court, upon the company’s petition, shall convert rehabilitation claims that accrued between the date of petition and the date of commencement order to common benefit claims.