Right of denial

Under the Bankruptcy Law, if an act done by or against a bankrupt person before the commencement of bankruptcy proceedings harms a bankruptcy creditor, the bankruptcy trustee has the right to make such an act invalid in relation to the bankruptcy estate and to restore to the bankruptcy estate any property lost from the bankrupt person as a result of such an act. A debtor whose economic situation has deteriorated may harm the interests of all creditors by transferring his/her property free of charge, selling it cheaply, or concealing it (fraudulent acts), or by paying debts to only some creditors (preferential acts), but the right of avoidance is a system intended to prevent this. After the commencement of bankruptcy proceedings, the bankrupt person's property constitutes the bankruptcy estate, and the right to manage and dispose of it is left to the bankruptcy trustee, so such things do not happen. The right of avoidance is similar to the right to set aside fraudulent acts under the Civil Code in that it allows the cancellation of acts that harm the interests of creditors (and is said to have the same historical origin), but it differs in that it places emphasis on the interests of all creditors and on ensuring equality and fairness among all creditors.

The main avoidance rights under the Bankruptcy Act are as follows:

(1) Denial of fraudulent acts (Article 160, Paragraph 1 of the Bankruptcy Law): Denial of acts that the bankrupt person committed knowing that they would harm bankruptcy creditors, and denial of acts that harm bankruptcy creditors that the bankrupt person committed after the suspension of payments, etc.
(2) Fraudulent debt extinguishing acts (Article 160, Paragraph 2 of the same law): Denial of debt extinguishing acts made by a bankrupt person that contained excessive payments.
(3) Denial of gratuitous acts (Article 160, Paragraph 3 of the Bankruptcy Act) Denial of gratuitous acts and paid acts that are equivalent to those performed by the bankrupt person after the suspension of payments, etc. or within six months prior to the suspension of payments, etc.
(4) Denial of the disposal of property for a reasonable price (Article 161 of the same Act)
(5) Denial of preferential treatment (Article 162 of the same Act) Denial of acts related to the provision of security for existing debts or extinguishment of debts
(6) Denial of non-mandatory biased acts within 30 days of insolvency (Article 162, Paragraph 1, Item 2 of the same Act)
(7) Denial of the requirement to oppose changes in rights (Article 164, paragraph 1 of the same law)
(8) Denial of enforcement actions (Article 165 of the same Act)
The bankruptcy trustee exercises the right of avoidance by suing the beneficiary (the party against whom the bankrupt person committed fraudulent acts) or the transferee (a person who further received from the beneficiary) and filing a claim for avoidance or a defense (Article 173 of the Bankruptcy Act). Any property that has been removed from the bankrupt person as a result of the exercise of the right of avoidance is restored to the bankruptcy estate (Article 167, Paragraph 1 of the Bankruptcy Act).

The Civil Rehabilitation Law also has a similar provision (Article 127 et seq.). In this case, the exercise of the right of avoidance is carried out by the supervisory committee or trustee who has the authority to avoid it (Article 135, Paragraph 1).
Similar provisions are contained in the Corporate Reorganization Law (Corporate Reorganization Law, Articles 86 et seq.).

[Yoshinobu Homma]

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

破産法上、破産手続開始前に、破産者がなし、または破産者に対してなされた行為が、破産債権者を害する場合に、その行為の効力を破産財団に対する関係で失わせ、その行為によって破産者のもとから失われた財産を破産財団に回復させる、破産管財人の権利をいう。経済状態の悪化した債務者が、その財産を無償で譲渡し、安く売却し、あるいは隠匿(いんとく)し（詐害行為）、または一部の債権者にのみ債務を弁済する（偏頗行為(へんぱこうい)）などして、債権者全体の利益を害することがありうるが、否認権はこれを防止せんとする制度である。破産手続開始後は、破産者の財産は破産財団を構成し、その管理処分権は破産管財人の手に委ねられるから、このようなことは起こらない。否認権は、債権者の利益を害する行為を取り消すという点で、民法上の詐害行為取消権に似る（歴史的には同一の起源をもつといわれる）が、総債権者の利益、総債権者間の平等・公平を図るとの視点が重視される点が異なる。

　破産法上の否認権のおもなものとして、次のものがある。

(1)詐害行為否認（同法160条1項）　破産者が破産債権者を害することを知ってした行為、および破産者が支払いの停止等があった後にした破産債権者を害する行為の否認
(2)詐害的債務消滅行為（同法160条2項）　破産者がした債務消滅行為であるが、過大な給付を内容とするものの否認
(3)無償行為否認（同法160条3項）　破産者が支払いの停止等があった後またはその前6か月以内にした無償行為およびこれと同視すべき有償行為の否認
(4)相当の対価を得てした財産の処分行為の否認（同法161条）
(5)偏頗行為否認（同法162条）　既存の債務についてされた担保の供与または債務の消滅に関する行為の否認
(6)支払不能になる30日以内の非義務的偏頗行為の否認（同法162条1項2号本文）
(7)権利変動の対抗要件の否認（同法164条1項本文）
(8)執行行為の否認（同法165条）
　否認権の行使は、破産管財人が受益者（破産者がなした詐害行為の相手方）または転得者（受益者からさらに受け取った者）を相手方として、訴え、否認の請求または抗弁の方法によって行う（同法173条）。否認権行使の結果として、破産者のもとから逸出した財産は、破産財団に復する（同法167条1項）。

　民事再生法においても、同様の規定が置かれている（民事再生法127条以下）。ここでは、否認権の行使は、否認権限を有する監督委員または管財人が行う（同法135条1項）
　会社更生法においても、同様の規定が置かれている（会社更生法86条以下）。

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