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Level3 wrote:And now for a reprint of inspiration

fumanchu wrote:My drunken project for tonight: Japanese Bankruptcy 101 via the internet...
We start with Japan Corporations Law:
As I see it we have two distinct but for our present purposes closely related concepts here - dissolution and liquidation - in both cases the outcome would be the end of Nova
The key sections are as follows:
Article 471. Reasons for Dissolution
THIS WONT HAPPEN
A kabushiki kaisha will be dissolved for the reasons listed hereunder:
(3) A resolution of the general shareholders meeting
THIS IS IMPORTANT - THIS CAN HAPPEN! - NOT SARUHASHI'S DECISION
(5) A court decision to initiate bankruptcy procedures
THIS IS ALSO IMPORTANT - RELATES TO CRIMINAL ACTIVITY
(6) A court order for dissolution based on the provisions of Article 824. (Corporate Dissolution Order), Paragraph 1 or Article 833, Paragraph 1.
MOVING ON TO ARTICLE 824
Article 824. Corporate Dissolution Order
THIS IS VERY IMPORTANT. THIS SAYS A COURT CAN DISSOLVE A COMPANY - IN PARTICULAR CREDITORS AND INTERESTED PARTIES CAN SEEK THIS REMEDY
1 In the situations listed hereunder, a court can, when it recognizes that the existence of a corporation is not permissible in order to secure the public interest, upon the petition of the Minister of Justice, shareholders, corporate members, creditors or other interested parties, order the dissolution of the corporation.
FOR CRIMINAL ACTIVITY
(3) Where business managing directors, executive officers and corporate members that execute the business, have committed acts deviating from the authority of the corporation as provided by law or the articles of incorporation or which abuse such authority, or do acts infringing on criminal laws, and, in disregard of a written warning received from the Minister of Justice, they continuously or repeatedly perform such acts.
MOVING ON TO OTHER CAUSES OF LIQUIDATION
Article 475. Causes for Initiating Liquidation
In the situations listed hereunder, the kabushiki kaisha must be liquidated based on the provisions of this Chapter:
CONNECTS LIQUIDATION TO DISSOLUTION
(1) When there has been a dissolution of the kabushiki kaisha (excluding those situations where there has been a dissolution based on the reasons listed in Article 471. (Reasons for Dissolution), Item 4 and where there has been dissolution based on the decision to initiate bankruptcy proceedings and the said bankruptcy proceedings have not been concluded)
MAYBE RELEVANT? DON'T KNOW
(3) Where there has been the confirmation of the court decision admitting the demands related to litigation for the invalidation of a transfer of shares
AND NOW MOVING ON TO COURT APPOINTED LIQUIDATORS (i.e. liquidation)
Article 478. Appointment of Liquidators
1. Parties listed hereunder, shall become liquidators of a kabushiki kaisha in liquidation.
THIS IS SARUHASHI
(1) Directors (excluding those situations where the parties are listed in the following Item or Item 3)
THIS WONT HAPPEN
(3) Parties appointed by the resolution of the general shareholders meeting.
THIS WOULD HAPPEN IF SARUHASHI DIES OR BECOMES LEGALLY INCAPACITATED - I.E. IS IN JAIL
2. When there is no party to become a liquidator based on the provisions of the previous Paragraph, upon the petition of an interested party, a court shall appoint the liquidators.
THIS SAYS LIQUIDATION CAN OCCUR WHEN THE COMPANY IS DISSOLVED FOR REASONS DISCUSSED ABOVE - E.G. CRIMINAL ACTIVITY - AT THE REQUEST OF THE MINISTER OF JUSTICE OR AN INTERESTED PARTY.
3. Regardless of the provisions of the previous two paragraphs, with respect to kabushiki kaisha in liquidation liquidated based on the reasons listed in Article 471. (Reasons for Dissolution), Item 6, a court, based on the petition of an interested party or the Minister of Justice, or on its own authority, shall appoint liquidators.
THIS STATES THAT LIQUIDATION CAN OCCUR DUE TO "AN INVALIDATION OF A TRANSFER OF SHARES" (i.e. 475(3))
4. Regardless of the provisions of the Paragraphs 1 & 2, with respect to a kabushiki kaisha in liquidation which falls into the situations listed in Article 475. (Causes for Initiating Liquidation), Items 2 or 3, upon the petition of an interested party, a court shall appoint liquidators.
In conclusion we can see that it is very complicated, and it most definitely is not true to say only Saruhashi can declare Bankruptcy. [Furthermore, what a waste of my time!!!!!]
Disclaimer: I've had an awful lot of whisky and no understanding of Japanese law - so I do not claim accuracy or take responsibility for anything written above



kieah wrote:And Level 3 the whole point of the American comment was to highlight the stereotypical nature of all these people 'tarring everyone with the same brush'
Yeah Im such an American hater Im going there for a holiday at the end of this week.
I'm not stressed and yes after I have taken all the paid holidays I have I will work the last few days up till the 16th of November. My family is here, I live here (for the time being) I'm gunna do the right thing and abide by the law.
Why is that so difficult for you to understand. What you wanna fit the Japanese stereotype that all foreigners are criminals???
People have mentioned this before as others have shot them down, but in all seriousness if teachers not turning up does send the company under before Monkey Fuck has PUBLICLY screwed it will must certainly give foreigners a bad name here. Japanese people already think they are must more loyal to and responsible for the jobs.
All I'm saying is think first before you shoot your mouths off about jumping ship NOW and that everyone who doesn't is a MORON. Many people have explained and many different ways why their are people who choose to stay. And rightfully so. But you just ignore what you dont wanna accept and badmouth those who dont follow your tune.

ghongogoro wrote:This really is getting ridiculous... how long can they keep going without paying their staff?
One other point... Even if all the staff walk off the job, will that be the end of Nova or will Saruhashi just call a two week break or something and then reopen if and when he's got some money together?

novawhiz wrote:OregonDuck wrote:billymadison wrote:Wage Slave wrote:I would have thought so - Why not?
I don't know the exact reasons why the union wasn't able to reach out to new teachers, but I've speculated in the past on a number of occasions that the amount of man hours to recruit say 20% and maintain that level would be monumental and essentially a continuous organization drive with no end. I never really saw a fully fledged union at nova (or any other chain) as possible primarily because it would throw the company into a tail slide. Nova, and basically all the eikaiwa chains, are setup around a very specific business model. It's essential that employee wages are kept as low as possible (including benefits) and turnover is kept as high as possible . If a union ever gained enough support to compel an eikiwa to address all the employment problems and provide benefits, that eikiwa would basically be unprofitable and out of business.
Nova's had a hell of a time showing a profit, even before this year they were down some $60mil since 2001. If you subtract the amount they were collecting from teachers above and beyond the actual rent, Nova wouldn't show a profit at all in the past 7 years. Any increase at all on the cost side of an eikiawa business is like an infection (especially long term teachers that make the good money).

kieah wrote:And for those saying "my Japanese friend/manager/father-in-law blah blah blah understands why I am doing this" I ask you, how long have you been in this country??? Since when did Japanese people start telling others that their decision were wrong??? AND to their face to boot!!!


kieah wrote:
Seriously are you all American? If any of you are Aussies or Kiwis I hang my head in shame.

"What you wanna fit the Japanese stereotype that all foreigners are criminals???"



[/quote]JaPanic13 wrote:kieah"What you wanna fit the Japanese stereotype that all foreigners are criminals???"
First of all, not all Japanese think that foreigners are all criminals.


kieah wrote:I dont need a job or a VISA, therefore for me to enter the job market and take a job is just RUDE. I'm trying to think of those who want to stay here but are sponsored by NOVA.


kieah wrote:the whole stereotype thing came up because I said ;are you all American' (trying to make a point about some people here saying all those who go into work are morons - like people stereotype americans, or the japanese stereotpe foreigners). Apparently I didnt do it well.

kieah wrote: Yesterday was MY first late payment, for me to not turn up is nothing short of arrogant and disrespectful to the Japanese system.

strongbad wrote:kieah wrote:the whole stereotype thing came up because I said ;are you all American' (trying to make a point about some people here saying all those who go into work are morons - like people stereotype americans, or the japanese stereotpe foreigners). Apparently I didnt do it well.
You just stereotyped the Japanese. Again. As all blacks said, please quit while you are behind.

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