Partial Payment before Bankruptcy Discharge and partial Discharge-The Analysis of Their Legality

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The first year of this research project was 1995.Since then the number of consumer bankruptcies in Japan, including credit cardholders' bankruptcies, has been increasing.Last year it was reported that the filings, mostly occupied by consumer bankruptcies, totaled over 70,000 cases.This shows the significance of this research project.This project consists of two main topics, i.e., field survey and comparative analysis.By means of field survey.targeting card business and court practice, it was unveiled that there were various factors behind the reason why cardholders went broke.I also found that court practice ranged from unconditional discharge to discharge conditioned upon partial payments (Yoshimitu Aoyama, Partial Payments Before Discharge and So-called Partial Discharge, Gekkann Shohisya Shinyo 1994 vol.2.attached).With respect to comparative analysis I made study on the related provisions of US Bankruptcy Code and German New Insolvency Act.Especially the German Act seems informative in terms that it is designed to harmonize the interests of debtors and creditors by introducing the idea of discharge conditioned upon partial payments, instead of all or nothing approach.I have a plan to revise the attached analysis of the German Act in the near future.The comprehensive reform work on bankruptcy system in Japan has already started.Taking advantage of the fruits of this research project I have been discussing about the future of consumer bankruptcy proceedings with academicians and practitioners (attached). It is my firm belief that this research project has been and will been serving as assets for the reform toward next millenium.