Against the backdrop of the excessive debts caused during the COVID-19 pandemic and the escalation of general prices, the number of debt restructuring cases is increasing in Japan,  and large companies with international businesses are no exception. With the rise of insolvency/restructuring cases, it has become common practice for large-scale international companies in Japan to restructure their debts through an out-of-court workout process called Turnaround ADR (alternative dispute resolution).

Since international Turnaround ADR cases have attracted the attention of non-Japanese stakeholders, and the number of international restructuring cases using Turnaround ADR is expected to keep increasing, we will provide an overview of this out-of-court workout process in a series of articles.
This first issue of the newsletter provides an outline of the process.