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| TITLE | Supreme Court Decision 2019Da235528 Decided August 30, 2019【Assigned Money】 [full Text] |
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| Summary | |
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[1] In a case where a list of individual rehabilitation creditors has been submitted in the individual rehabilitation procedures, or where other individual rehabilitation creditors participated in the individual rehabilitation procedures, whether interruption of prescription remains effective when the individual rehabilitation procedures are ongoing (affirmative in principle), and whether the court’s decision to authorize a repayment plan in the individual rehabilitation procedures affects the effect of the interruption of prescription (negative) [2] In the case where: (a) the principal debtor (“Party B”) of the limited company (“Company A”) filed an application for individual rehabilitation before the lapse of the period of extinctive prescription, submitted a list of creditors under which Company A was listed as a creditor, and received the court’s decision to authorize a repayment plan; (b) Company A filed a claim for performance of guarantee obligations against the joint guarantor (“Party C”), the case affirming the lower judgment that held as follows: (a) the extinctive prescription of Party B’s debt is interrupted at the time of the submission of the list of creditors under which Company A is listed as the creditor; (b) so long as Party B’s individual rehabilitation procedures are not rescinded and ongoing, the interruption of prescription remains effective; and (c) the interruption of prescription as to Party B is effective towards his or her guarantor, Party C |
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