別べつ除じょ権けん

noun

right of exclusion; right to exclude property from bankruptcy estate

A legal term in Japanese bankruptcy law: the right of a secured creditor to have specific collateral excluded from the bankruptcy estate and to receive satisfaction outside the ordinary bankruptcy distribution process.

• 別べつ除じょ権けんを行こう使しするには、担たん保ぽ権けんの存そん在ざいを証しょう明めいしなければならない。

  To exercise the right of exclusion, one must prove the existence of a security interest.

• 破産手続はさんてつづきにおいて、別べつ除じょ権けん者しゃは優ゆう先せん的てきに弁べん済さいを受うけられる。

  In bankruptcy proceedings, a holder of a right of exclusion can receive payment with priority.