Financial Restructuring and Bankruptcy Law

Article 185 — Article (185) Creditors to Take Unilateral Actions

Part Three: Declaration of Bankruptcy · Chapter Nine: Effects of Liquidation and Distribution Plan Approval

1. Each creditor shall have the right, after the bankruptcy proceeding is completed, to take unilateral actions in order to collect their remaining debt balances. If the creditor's debt has been verified and finally accepted under the bankruptcy proceeding, the judgment declaring the debtor bankrupt shall serve as a writ of execution whereby each creditor may enforce its right against the debtor's assets within the limit of its own debt. 2. The Case Management Office of the Bankruptcy Court or Appeal Court, as the case may be, shall issue and deliver to each creditor an executive version of the judgment, indicating the name of the creditor and its debt due, based on a certificate to be issued by the Bankruptcy Department.

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