1. Overview
1.1 Where would you place your jurisdiction on the spectrum of debtor- to creditor-friendly jurisdictions?
In restructuring proceedings, the creditor cannot take the initiative, nor do they have the right to control the proceedings, both institutionally and factually, in Japan. For instance, in general, the debtor in civil rehabilitation proceedings (minji-saisei) or the trustee in corporate rehabilitation proceedings (kaisha-kosei) has the right to control almost the entire…