noun
Corporate Reorganization Act
A specific Japanese law providing a legal framework for the rehabilitation of financially troubled companies, similar to Chapter 11 in the US.
会社更生法の適用を申請する企業が増えている。
An increasing number of companies are filing for protection under the Corporate Reorganization Act.
民事再生法 is a more debtor-friendly rehabilitation law for smaller companies, while 会社更生法 is typically for larger corporations and involves stricter court supervision.
Compound of 会社 (company), 更生 (rehabilitation), and 法 (law). The term is a direct legal designation.