Re Corporate Reorganization Proceedings
01 November 2010 - 8:00AM
UK Regulatory
TIDMTAK
RNS Number : 3364V
Takefuji Corporation
01 November 2010
October 31, 2010
To: All Parties Concerned
Takefuji Corporation, Reorganizing Company
Eiichi Obata, Trustee
Notice of the Order
of the Commencement of Corporate Reorganization Proceedings
As posted by Takefuji Corporation ("Takefuji") on the website in the News
Release section entitled "Filing for the Commencement of Corporate
Reorganization Proceedings" dated September 28, 2010, Takefuji has filed the
petition for the commencement of corporate reorganization proceedings with the
Tokyo District Court on September 28, 2010. Accordingly, on October 31, 2010,
at 10:00 AM, the Tokyo District Court ordered the commencement of the corporate
reorganization proceedings, and simultaneously, an examination order was issued
on the same date as follows.
Please accept our apologies for any inconvenience this may have caused our
creditors and all persons concerned who have given their support and cooperation
to Takefuji in the past.
From now on, Takefuji, together with our employees, will make our best efforts
to achieve the reorganization of the business of the company under the
supervision of the Court and the Examiner. Your kind understanding and
cooperation are appreciated.
1. The Order of the Commencement of Corporate Reorganization Proceedings and
the Examination Order
With regard to Heisei 22 (Mi) No. 12, Corporate Reorganization Case (filed on
September 28, 2010), the Tokyo District Court ordered thecommencement of the
corporate reorganization proceedings and issued an Examination Orderon October
31, 2010, at 10:00 AM.
2. Name of the Trustee and the Examiner
Trustee: Eiichi Obata
Examiner: Hideaki Sudo
(This English translation is solely for reference purposes. In case of any
discrepancy between the Japanese original and this English translation, the
Japanese original shall prevail.)
Case No. 2010(MI) No. 12
Corporate Reorganization
ORDER
Indication of Parties: As per Attached List of Parties
Text of ORDER
1. Reorganization proceedings are to be commenced with respect to Takefuji
Corporation.
2. The following party has been appointed to act as Trustee:
Eiichi Obata
Hiei Kudan Kita Bldg 10F, 1-3, Kudan-Kita 4-chome, Chiyoda-ku, Tokyo
3. The period during which proofs of reorganization claims should be filed
shall be as follows:
(1) Period during which proofs of reorganization claims should be filed:
Until February 28, 2011.
(2) Deadline for submission of statement of approval or disapproval:
By April 28, 2011.
(3) Period for ordinary investigation:
From May 2 through May 13, 2011.
4. The period during which the reorganizing company, reorganization creditors,
shareholders, workers' union and other parties may submit a written opinion
concerning appointment of the Trustee shall be as follows:
Until December 28, 2010.
5. The period for submission of a proposed reorganization plan shall be as
follows:
(1) Period during which the Trustee must submit a proposed reorganization
plan:
By July 15, 2011.
(2) Period during which the reorganizing company, holders of filed
reorganization claim and shareholders may submit a proposed reorganization plan:
By July 8, 2011.
6. In addition to the actions prescribed in the Corporate Reorganization Act,
the Trustee shall also carry out the following actions:
(1) Submission of the report prescribed in Article 84(1) of the Corporate
Reorganization Act to the Court by January 31, 2011;
(2) Preparation each month of a report and profit and loss statement
concerning the status of administration of the business and property of the
reorganizing company, and submission of said report accompanied by a copy of the
profit and loss statement to the Court by the end of the following month;
(3) Preparation of a balance sheet showing property at the time of
commencement of reorganization proceedings prior to evaluation of the value, and
submission thereof to the Court promptly thereafter;
(4) Preparation of a balance sheet and an inventory of assets as prescribed
under Article 83(3) of the Corporate Reorganization Act, and submission thereof
to the Court promptly thereafter;
(5) Preparation of a document stating the total value of assets as per
liquidating value and going concern value at the time of preparation of the
proposed reorganization plan, and a profit and loss statement for the period
through the time of preparation of the proposed reorganization plan after
commencement of reorganization proceedings, and submission thereof together with
the proposed reorganization plan to the Court;
(6) At the time of submission of the documentation prescribed in (1) through
(5) above to the Court, submission of copies thereof to the Examiner; and
(7) If requesting approval from the Court for the matters prescribed in
Section 7 below, obtaining a prior opinion from the Examiner with a summary
thereof to be attached to the request for approval.
7. The Trustee shall obtain approval from the Court to carry out the following
actions:
(1) Assignment of rights to, establishment of security interests in, leasing
of or any other disposition with respect to property held or possessed by the
reorganizing company (excluding cases pertaining to transactions that are part
of ordinary business operations);
(2) Assignment of rights to, establishment of security interests in or any
other disposition with respect to claims held by the reorganizing company
(excluding collections by the reorganizing company);
(3) Acceptance of transfers of property (excluding such for the purpose of
stocking or pertaining to transactions that are part of ordinary business
operations);
(4) Loan (excluding cases pertaining to transactions that are part of
ordinary business operations);
(5) Borrowing money (including the discounting of promissory notes) and
making guarantees;
(6) Cancellation of contracts under the provision of Article 61(1) of the
Corporate Reorganization Act;
(7) Filing of any lawsuits or temporary restraining, mediations, issuance of
any warnings for payments, or filing of petitions for any actions similar
thereto, or any withdrawal of such actions (excluding lawsuits, etc., the amount
of which is not exceeding JPY3,000,000);
(8) Entering into any settlement or arbitration agreements (meaning
arbitration agreements as prescribed in Article 2(1) of the Arbitration Act (Act
No. 138 of 2003));
(9) Release from debts, incurrence of any liabilities for gratis, or waive
of rights;
(10) For administrative claims (excluding such arising in conjunction with
daily transactions or through employment relationships, and such amenable to
collection under the National Tax Collection Law or precedent for collection of
national taxes), admitting or repaying such in excess of JPY10,000,000, and
admitting any rights of segregation;
(11) Conversion of securities pertaining to secured claims (excluding
establishment of rights of pledge for conversion of securities against insurance
claims under renewed fire insurance policies); or
(12) Entering into any contracts pertaining to assistance for maintenance and
reorganization of the business of the reorganizing company or any contracts
pertaining to the business of selecting parties to render such assistance.
Grounds for Order
According to the case records, while there is a fact constituting the grounds
for commencement of reorganization proceedings prescribed under Article 17(1) of
the Corporate Reorganization Act for the reorganizing company preceding
commencement, there is no such constituting the grounds for commencement of the
same prescribed under the items of Article 41(1) of the Corporate Reorganization
Act.
Accordingly, given the existence of justifiable grounds for the petition, order
is hereby made as stated in Section 1 of the Text of Order, and in conjunction
therewith, as stated in Sections 2 through 7 thereof pursuant to the provisions
of Article 42(1), Article 72(2), Article 84(2), Article 85(4), Article 146(3),
and Article 184(1) and 184(2) of the Corporate Reorganization Act, and Article
51(1) of the Corporate Reorganization Regulations.
October 31, 2010
10:00 a.m.
Department 8 of the Tokyo District Court Civil Court Division
Chief Presiding Justice: Yuji Watanabe
Presiding Justice: Akiyo Fukui
Presiding Justice: Hiroki Arita
Attachment
LIST OF PARTIES
+---------------------------------+----------------------------+
| Petitioner (company before | Takefuji Corporation |
| commencement of reorganization | 15-1, Nishi-Shinjuku |
| procedures): | 8-chome |
| | Sinjuku-ku, Tokyo |
| | |
+---------------------------------+----------------------------+
| Representative Director and | Junichi Yoshida |
| President: | |
+---------------------------------+----------------------------+
| Attorneys representing the | Eiichi Obata |
| above petitioners: | Kyoko Uemura |
| ? | Masato Motoyama |
| ? | Hiroyuki Shibata |
| ? | Toshio Shimada |
| ? | Hirofumi Kurahasi |
| ? | Kazunari Honda |
| ? | Naofumi Ueno |
| ? | Akito Hattori |
| ? | Masahiko Uchida |
| ? | Kensaku Watanabe |
| ? | Chihaya Takada |
| ? | Takuya Mori |
| ? | Koji Yamamoto |
| ? | Daijiro Takano |
| ? | |
+---------------------------------+----------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEALFFEFEEFEF
Takefuji Corp (LSE:TAK)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Takefuji Corp (LSE:TAK)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
