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.
An increasing number of companies are filing for protection under the Corporate Reorganization Act.
The court decided to apply the Corporate Reorganization Act to the company.
The company, whose finances had deteriorated, filed for application of the Corporate Reorganization Act.
The rehabilitation procedure was carried out based on the Corporate Reorganization Act.