We submitted a motion to the Tokyo District Court on March 28, 2018, urging the court to promptly issue a decision to commence rehabilitation proceedings and convert the bankruptcy proceedings to rehabilitation proceedings.
Even though about a month has elapsed since the Examiner’s report was submitted, the court has not yet issued a decision to commence rehabilitation proceedings. We cannot help but say that it is taking too long. The report states that it is reasonable to make a decision to commence rehabilitation proceedings on the condition that “measures taken to ensure the benefits of the bankruptcy creditors” are satisfactory. However, the bankruptcy trustee has not yet informed the creditors whether these measures will be taken, and the bankruptcy trustee is of the opinion that the court should decide and that the bankruptcy trustee is not in a position to judge.
In order to resolve the situation, we submitted the motion to issue a decision to commence rehabilitation proceedings.
Thank you for your continued support.