Comprehensive Reform of Japanese Personal Insolvency Law

Abstract

The project of the comprehensive reform of Japanese insolvency law started in October 1996. After many enactments and amendments, there are now two types of judicial proceedings for personal insolvencies in Japanese insolvency law. The first category is straight bankruptcy proceedings in which the debtor can be discharged; the other is special Civil Rehabilitation proceedings for individual debtors. In this Article, I will first give a brief overview of the special Civil Rehabilitation proceedings for individual debtors (Part I), including a short description of two types of proceedings, and legislative issues. Then I will give a brief overview of major amendments of the Bankruptcy Law concerning individual bankruptcies (Part II), including amendments relating to the scope of exemption and discharge proceedings.