Out-of-Court Workouts

  Nishimura & Asahi provides legal services for out-of-court workouts as well as providing support to clients receiving financial assistance, from primarily financial institutions, by means of debt rescheduling, debt-equity swap (DES: conversion of debts into equity), debt-debt swap (DDS: subordination of existing debts) and debt waiver.

  We have advised a variety of debtor enterprises regarding their out-of-court workouts, from globally expanding enterprises to local SMEs, and have supported their revitalization by utilizing a variety of proceedings for out-of-court workouts, such as “Turnaround ADR”, “Regional Economy Vitalization Corporation of Japan (REVIC) proceedings”, “Council to Support Revitalization of Small and Medium Enterprises proceedings” and “Special Conciliation Proceedings for Expediting Arrangement of Specified Debts”.  Due to the number of turnaround specialists in our firm, we have managed the revitalization of distressed enterprises for more than a hundred financial creditors, as well as enterprises with unique types of creditors such as corporate bond holders and financial lease companies, and those with distinctive transactions such as financial derivatives and securitization.

  In addition, Nishimura & Asahi provides a full range of legal services necessary for out-of-court workouts including solutions for incidental legal issues and support for the improvement of business profitability and fund raising. 

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