S-Space College of Law/Law School (법과대학/대학원) The Law Research Institute (법학연구소) Journal of Korean Law Journal of Korean Law Volume 07 Number 1/2 (2007)
A Study on the Target of Avoidance in Korean Bankruptcy Law: When There is No Debtor’s Action
- Lim, Chaewoong
- Issue Date
- BK 21 law
- Journal of Korean Law, Vol.7 No.2, pp. 333-347
- bankruptcy; rehabilitation; rehabilitation for an individual; avoidance; transfer of wealth; act; act performed by debtor (APD); substantial same; identifying with APD
- The avoidance power in the Korean bankruptcy law is very similar to the American one with
some difference. The big difference comes from the Korean concept of ‘act’. The Korean law system
is based on the continental law rather than the Anglo-American law. The basic target of
avoidance in Korea is the act performed by the debtor (APD).
But the wealth might be transferred without APD. If the transfer without APD could not be
avoided, the goal of bankruptcy procedure might not be accomplished in many cases. Therefore are
there some excepcions. There are two categories of exception. The one is by statute, the other is by
This essay tries to explain what could be avoided in the Korean bankruptcy law. It focuses on
the cases without APD, because the exceptions by the statute are restricted and the legality of
them is out of question.
First, to explain it, this essay shows the structure of the Korean law.
Second, it tries to explain the exceptions by the statute. Especially the civil enforcement act
by court is important.
Next, this essay explains the exceptions by court rulings, which are substantially same and
identifying with APD. These are important, because they are not fixed one till now. They are
just starting to develop. It is necessary to follow it up.
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