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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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  • A study on the target of avoidance in Korean bankruptcy law
  • Lim, Chaewoong
  • Seoul National University(BK 21 Law)


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Title A study on the target of avoidance in Korean bankruptcy law
Similar Titles
Sub Title

When there is no debtor's action

Material Type Articles
Author(English)

Lim, Chaewoong

Publisher

[Seoul]:Seoul National University(BK 21 Law)

Date 2007
Journal Title; Vol./Issue Journal of Korean Law:vol. 7(no. 2)
Pages 15
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Government and Law < Laws and Legislation
Holding Seoul National University

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. (The rest omitted)