Best Restructuring & Insolvency Lawyers in Osaka

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Daiichi Law Offices
Osaka, Japan

Founded in 1964
50 people in their team
Japanese
English
Founded in Osaka in 1964, Daiichi Legal Professional Corporation is a full-service commercial law firm representing domestic and global companies through its Tokyo and Osaka offices. We also assist individuals in the areas of wills and estate as well as criminal defense mostly on white-collar...
SHUSAKU YAMAMOTO
Osaka, Japan

Founded in 2000
50 people in their team
Japanese
English
What it means to serve our clientsBecause of the breadth, depth and diversity of technological and legal experience of the SHUSAKU·YAMAMOTO team, we have extensive expertise in serving and protecting anything under the sun that is made by man.Check out the far-ranging Nikkei Leadership Interview...
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About Restructuring & Insolvency Law in Osaka, Japan

Restructuring and insolvency law in Osaka, Japan, deals with the legal processes and frameworks that help individuals and businesses experiencing severe financial distress. These laws are designed to provide mechanisms for restructuring debt, reorganizing businesses, and, when necessary, facilitating fair and orderly liquidation of assets. Osaka, as Japan’s business center in the Kansai region, regularly sees companies and individuals navigating these procedures with the support of legal professionals.

Why You May Need a Lawyer

Legal assistance in restructuring and insolvency matters is essential for anyone facing financial hardship, whether as a business owner, manager, creditor, or private individual. A lawyer can help in situations such as:

  • Advising on available options for debt restructuring or rehabilitation
  • Negotiating with creditors on your behalf
  • Preparing or challenging bankruptcy filings
  • Protecting your interests during liquidation or civil rehabilitation proceedings
  • Advising on legal risks and obligations as a director or officer of an insolvent company
  • Ensuring compliance with court procedures and statutory duties
  • Addressing potential allegations of misconduct, such as fraudulent conveyance or preference

Local Laws Overview

In Osaka, as in the rest of Japan, restructuring and insolvency matters are mainly governed by national laws. The main statutes include the Bankruptcy Act, the Civil Rehabilitation Act, and the Corporate Reorganization Act. Osaka courts, including the Osaka District Court, handle insolvency proceedings, and there are specialized divisions for commercial and bankruptcy cases. Key features include court-supervised procedures for both individuals and corporations, options for voluntary arrangements with creditors, and legal protections for both debtors and creditors. Local practice also means that proceedings are often conducted in Japanese, requiring professional translation and legal assistance for non-native speakers.

Frequently Asked Questions

What is the difference between bankruptcy and civil rehabilitation in Japan?

Bankruptcy is a liquidation process where the debtor’s assets are distributed to creditors. Civil rehabilitation, on the other hand, aims to restructure debts so that the debtor can continue operations while repaying creditors under a court-approved plan.

Who can file for insolvency or restructuring in Osaka?

Both individuals and companies can file for insolvency or restructuring. Creditors may also initiate proceedings if certain legal requirements are met.

Are there alternatives to bankruptcy in Japan?

Yes. Alternatives include civil rehabilitation, corporate reorganization, and voluntary arrangements between debtors and creditors, often with the assistance of a mediator or lawyer.

What are the main courts handling insolvency cases in Osaka?

The Osaka District Court is the primary venue for insolvency cases, including bankruptcy, civil rehabilitation, and corporate reorganization proceedings.

How long does the insolvency process usually take?

Timeframes vary depending on the complexity of the case, the type of procedure, and the number of creditors involved. Bankruptcy proceedings may take several months, while civil rehabilitation and corporate reorganization can take a year or longer.

Can foreign creditors participate in insolvency proceedings in Osaka?

Yes, foreign creditors can participate, but all court documents and filings must be in Japanese. A local attorney is usually needed to facilitate the process.

What happens to employment contracts in corporate restructuring?

During restructuring, the company must follow specific legal procedures regarding employment. Some redundancies may occur, but priority is given to continuity of employment where possible, and outstanding wages often have statutory protection.

Will my personal assets be affected if my company goes bankrupt?

Generally, personal liability is limited in the case of corporations. However, directors and officers may face personal liability if there is evidence of wrongdoing or guarantees. Personal bankruptcy is separate from corporate bankruptcy.

How are creditors paid in a bankruptcy or restructuring?

Creditors are paid according to a statutory order of priority. Secured claims are generally paid first, followed by preferential claims like wages and taxes, then unsecured creditors.

Is restructuring always successful?

Success depends on the underlying financial health of the debtor, the willingness of creditors to cooperate, and adherence to legal requirements. Not all restructurings succeed, so it is important to seek legal advice early to maximize the chances of recovery.

Additional Resources

If you are seeking information or support regarding restructuring and insolvency in Osaka, the following organizations may be helpful:

  • Osaka Bar Association - Offers lawyer referrals and legal information
  • Osaka District Court - Handles bankruptcy and restructuring cases
  • Japan Legal Support Center (Houterasu) - Provides general legal guidance and resources
  • Japan Federation of Bar Associations - Offers nationwide information on legal professionals and insolvency procedures
  • Civil Rehabilitation Support Organizations - Nonprofits assisting with debt counseling and rehabilitation

Next Steps

If you or your business is facing financial difficulties or if you believe a customer or partner is insolvent, consult with a qualified lawyer as soon as possible. Here are steps to consider:

  • Gather all relevant financial documents, such as bank statements, contracts, and records of debts
  • Contact a local lawyer who specializes in restructuring and insolvency
  • Arrange an initial consultation to discuss your situation and explore your options
  • Follow your lawyer’s advice and provide honest, complete information to help them act in your best interest
  • Consider alternative dispute resolution or mediation if appropriate

Remember, the earlier you seek professional advice, the more options may be available to resolve your situation effectively.

Lawzana helps you find the best lawyers and law firms in Osaka through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Osaka, Japan - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.