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A Study on the Target of Avoidance in Korean Bankruptcy Law: When There is No Debtor’s Action

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Authors
Lim, Chaewoong
Issue Date
2007
Publisher
BK 21 law
Citation
Journal of Korean Law, Vol.7 No.2, pp. 333-347
Keywords
bankruptcyrehabilitationrehabilitation for an individualavoidancetransfer of wealthactact performed by debtor (APD)substantial sameidentifying with APD
Abstract
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

court rulings.

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.
ISSN
1598-1681
Language
English
URI
http://hdl.handle.net/10371/85134
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College of Law/Law School (법과대학/대학원)The Law Research Institute (법학연구소) Journal of Korean LawJournal of Korean Law Volume 07 Number 1/2 (2007)
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