The first case in Japanese history where the debtor used simplified rehabilitation proceedings as a tool to “cram down” minority lenders
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- Publication
- Restructuring & Insolvency Newsletter (Vol.1)
- Language
- English
- Author
- Dai Katagiri Wataru Ishida Ryo Kawabata Takashi Harada Haruka Kikuchi
- Related Practice Areas
- Finance Disputes/Dispute Resolution Bankruptcy/Restructuring International Practice
- Download
- Restructuring & Insolvency Newsletter (Vol.1)
In this first issue, we provide an overview of a novel way for debt-restructuring – a combination of Turnaround ADR and simplified rehabilitation proceedings (kanni-saisei) – used by Marelli, a global auto parts company, in order to cram down in effect opposing lenders. This issue will provide you with insights into key characteristics and practical developments of Turnaround ADR, the most popular scheme for corporate workout for global entities in Japan.