Subordination in Japanese insolvency proceedings

There are the three main types of insolvency proceedings in Japan. The first is bankruptcy proceedings under the Bankruptcy Act, a liquidation-type insolvency proceedings. The second is civil rehabilitation proceedings under the Civil Rehabilitation Act, a rehabilitation-type and debtor-in-possession type insolvency proceedings, which aims to enable a debtor-in-possession to recover by restructuring creditors' claims based on a rehabilitation plan. The third type is corporate reorganisation proceedings under the Corporate Reorganisation Act, a rehabilitation-type and basically trustee-type insolvency proceedings, with the aim of a court-appointed trustee enabling a stock corporation to recover by restructuring creditors' claims based on a reorganisation plan.