A preliminary analysis of the amendments to the Japanese secured transaction law
The collapse of the Japanese asset price bubble in the 90's left a record amount of non-performing loans in the nation's financial system. To tackle this unprecedented crisis, both legal scholars and practitioners in Japan advocated for a series of amendments to its secured transaction law...
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| Format: | text |
| Language: | Chinese |
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Institutional Knowledge at Singapore Management University
2004
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| Online Access: | https://ink.library.smu.edu.sg/sol_research/2316 https://ink.library.smu.edu.sg/context/sol_research/article/4268/viewcontent/prelim.pdf |
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| Institution: | Singapore Management University |
| Language: | Chinese |
| Summary: | The collapse of the Japanese asset price bubble in the 90's left a record amount of non-performing loans in the nation's financial system. To tackle this unprecedented crisis, both legal scholars and practitioners in Japan advocated for a series of amendments to its secured transaction law to facilitate the enforcement of mortgages by banks. In this paper, based on the state of the post-bubble real estate finance market, I discussed the major drawbacks of the existing Japanese secured transaction system as it was applied in the real estate arena. I commented on the proposed material amendments to the Japanese secured transaction law and further considered what the Chinese legislators could learn from Japan's experience. |
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