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| TITLE | Supreme Court Order 2009Ma1600 Decided March 25, 2010 [Bankruptcy Declaration] [full Text] |
|---|---|
| Summary | |
| [1] Whether, pursuant to the territorial principle of the former Company Reorganization Act, the original effect of a foreign country reorganization proceeding reaches property located within the Republic of Korea (negative) [2] Legal nature and effect of ""the approval order of foreign country bankruptcy procedure"" [3] Legal nature of ""assistance order"" under the Debtor Rehabilitation Act [4] The standards, under the Debtor Rehabilitation Act, of determining the approval of the discharge trial, etc. of a foreign court conducted in foreign country bankruptcy procedure [5] The case where it is against the ""good customs or other social order of the Republic of Korea"" to acknowledge the effect of the discharge trial, etc. of a foreign court [6] The case holding that to acknowledge the effect of discharge in domestic property according to the rehabilitation plan approval order of the US Bankruptcy Court unfairly invades the right of the domestic creditor and its concrete result is against the good customs or other social order of the Republic of Korea and thus, the above rehabilitation plan approval order of the US Bankruptcy Court can not be approved since it does not satisfy the requirements of Article 217 subparagraph 3 of the Civil Procedure Act | |
