Turnaround ADR

Turnaround Alternative Dispute Resolution (ADR) (Japanese: 事業再生 Jigyo Saisei ADR), also known as Business Revitalization ADR, is a process increasingly used by companies in Japan to adjust their debt.^[1]^[2] This out-of-court procedure was established in Japan in 2007 and is based on Japanese Law, specifically the Special Measures Law for Industrial Revitalization and Rebirth of Japan.^[3] It allows companies to forgo bankruptcy proceedings and replaces previous voluntary debt adjustments under such as the "Guideline for Voluntary Debt Adjustment" (Shiteki Seiri Guideline).

Although the procedure is named using the generic alternative dispute resolution title, Turnaround ADR is not a procedure for resolving disputes. Rather, it offers a way for financially stressed companies to reassess and restructure debts.

^ The Sumitomo Trust and Banking Co., Ltd. (September 18, 2009). "Preparation for Turnaround ADR Procedure by a debtor of The Sumitomo Trust and Banking Co., Ltd" (Whitepaper).^{[permanent dead link]}
^ Aozora Bank, Ltd. (September 18, 2009). "News Release" (Whitepaper).^{[dead link]}
^ ES-CON Japan Ltd. (August 14, 2009). "Notice of Joint Explanatory Meeting for the Bondholders of the Bonds Issued by Our Company" (PDF). Archived from the original (Whitepaper) on October 9, 2011.

[sumitomo-1] The Sumitomo Trust and Banking Co., Ltd. (September 18, 2009). "Preparation for Turnaround ADR Procedure by a debtor of The Sumitomo Trust and Banking Co., Ltd" (Whitepaper).^{[permanent dead link]}

[aozora-2] Aozora Bank, Ltd. (September 18, 2009). "News Release" (Whitepaper).^{[dead link]}

[escon-3] ES-CON Japan Ltd. (August 14, 2009). "Notice of Joint Explanatory Meeting for the Bondholders of the Bonds Issued by Our Company" (PDF). Archived from the original (Whitepaper) on October 9, 2011.

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