Takefuji Corporation, one of the largest consumer financing companies in Japan, petitioned the Tokyo District Court for corporate reorganization on September 28, 2010 and the court accepted the petition on the same day. The court immediately appointed a provisional trustee and an investigator to determine whether Takefuji is eligible for the insolvency proceeding under the Corporate Reorganization Law. The court also ordered a moratorium on enforcement of judgments against Takefuji and forbade Takefuji to repay its creditors and sell or loan its assets. Takefuji's total liabiltiies according to its balance sheet dated June 30, 2010 are ¥443.608 billion.
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