• Services
• Track Records

We develop appropriate restructuring schemes based on the results of due diligence, covering legal, financial, tax, and business aspects. Ensuring the continuity of business operations requires securing the understanding of financial institutions and other creditors. Furthermore, knowledge of insolvency laws, court practices, and out-of-court workouts is essential.

Our attorneys collaborate with certified public accountants, tax advisors, and business consultants to develop suitable restructuring and debt resolution plans tailored to each case. We offer support not only for legal insolvency proceedings but also for out-of-court workouts that best suit the circumstances of each business.

Our services extend beyond the Tokyo metropolitan area to all regions and industries across Japan, regardless of company size or business phase.

Services

Turning Businesses Around via Out-of-Court Workouts

Out-of-court workouts involve various procedures. Each procedure has its own distinct characteristics, and in order for creditors to properly understand and navigate these procedures, it is necessary to have both knowledge of the system’s details and an understanding of how it is actually applied in practice. We also assist foreign creditors and others in gaining an understanding of Japanese legal procedures.
While out-of-court workouts generally require unanimous consent from creditors and are limited to financial institutions and designated creditors, our firm offers expert legal support in navigating these processes efficiently. Additionally, we specialize in M&A, assisting sponsors in M&A transactions related to restructuring procedures.

Business Closure Support via Out-of-Court Workouts

For businesses seeking to close with debt resolution, multiple private restructuring options are available.
Historically, business closure often resulted in bankruptcy filings for both the company and its guarantor (typically the business owner). However, recent trends favor Out-of-Court Workouts that leverage the Guidelines to minimize the financial and reputational impact on business owners, allowing for future reentry into the market.

Special Liquidation

In cases where a company is insolvent at the time of liquidation, a special liquidation (tokubetsu seisan) procedure—similar to insolvency proceedings—is required under Japanese law.
We provide not only explanations of the legal framework of this procedure, but also support to parties involved in special liquidation cases.

We assist companies with special liquidation procedures, including:
・ Special liquidation related to business revitalization or closure
・ Special liquidation for group company debt restructuring

Civil Rehabilitation and Corporate Reorganization

A typical example of reorganization-type insolvency proceedings in Japan includes Civil Rehabilitation (minji-saisei) and Corporate Reorganization (kaisha-kosei) procedures.
ZeLo provides legal representation for both debtors and creditors in civil rehabilitation and corporate reorganization proceedings. We also support M&A transactions associated with these legal procedures.

Bankruptcy

Our firm represents clients in bankruptcy filings and also undertakes trustee duties in court-administered bankruptcy cases.

Track Records

• Turning Businesses Around via Out-of-Court Workouts
  • Self-rehabilitation plans by debt-equity swaps (DES) and debt-debt swaps (DDS) for financial restructuring 
  • Sponsor-driven revitalization through the Second Company Method
  • Drafting of restructuring plans, investment agreements, shareholder agreements, and creditor agreements
  • Negotiations with financial institutions
• Business Closure via Out-of-Court Workouts
  • Formulation of repayment plans for businesses and guarantors
  • Debt release support under the SME Business Succession Guidelines
  • Special liquidation procedures
• Legal Insolvency Procedures
  • Civil rehabilitation applications across various industries and court jurisdictions
  • Corporate bankruptcy filings and trustee appointments
  • Corporate reorganization trustee support
  • We also represent creditors and sponsors in all these proceedings.

Members