The collapse of the Japanese asset price bubble in the 90's left a record amount of non-performing loans in the nation's financial system. To tackle this unprecedented crisis, both legal scholars and practitioners in Japan advocated for a series of amendments to its secured transaction law to facilitate the enforcement of mortgages by banks. In this paper, based on the state of the post-bubble real estate finance market, I discussed the major drawbacks of the existing Japanese secured transaction system as it was applied in the real estate arena. I commented on the proposed material amendments to the Japanese secured transaction law and further considered what the Chinese legislators could learn from Japan's experience.
Law of Transnational Business
Peking University Law Review
A preliminary analysis of the amendments to the Japanese secured transaction law. (2004). Peking University Law Review. 5, (2), 1-19. Research Collection School Of Law.
Available at: http://ink.library.smu.edu.sg/sol_research/2316
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