In brief

In brief

In Japan, any out-of-court workout requires the unanimous consent of all creditors to a restructuring plan. On 4 October 2022, the Japanese government announced that it is considering introducing new out-of-court workout rules. Under the proposed new rules, a restructuring plan will be binding if a majority vote of creditors and confirmation of the court is obtained. Such a majority rule is a common feature amongst schemes of arrangement in many other countries.

In more detail

Customer information has become an increasingly valuable business asset.  And, the volume and detail of other available information about consumers has increased along with it, well beyond mere customer names and addresses to preferences, purchasing history, and online activity.  This means that when a business is sold, customer information is often sold along with it.  But careful diligence is required in handling this intangible asset, and the recent settlement in the RadioShack bankruptcy case is instructive.