If certain majority creditors and the court approve the debtor's plan, it binds all unsecured creditors. Applicable only to a stock company, it is initiated voluntarily or by certain creditors or shareholders. The aim is rehabilitation. Applicable only to a stock company, the aim is to rehabilitate the company in a less rigid manner. Debtor-driven, the debtor company must obtain the consent of almost all creditors to the rehabilitation plan.
Retention of title is common in equipment lease transactions.
Process of debt collection in Japan is generally slow and expensive. Collection agencies are not legal and attorneys charge hourly rates. The ABC Companies, Inc.