The Privy Council has considered the question of whether an agreement to settle disputes arising out of a shareholders' agreement by arbitration prevents a party to the agreement pursuing a petition to wind up the company on just and equitable grounds.
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Introduction
Japan, Insolvency & Restructuring, Litigation, Jones Day, Surety, Debtor, Fraud, Liability (financial accounting)
Japan, Banking, Insolvency & Restructuring, Litigation, Jones Day, Debtor, Clearing house (finance), Debt
On March 1 2011 Tokyo District Court issued a decision which admitted the right of avoidance exercised by the court-appointed administrator of a corporate debtor in possession under civil rehabilitation proceedings, where the debtor company had settled a mortgage for a financing company as the real guarantor of its parent company.