Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
The Purge Of Mortgage In Japanese Civil Law, Wei Zhang
The Purge Of Mortgage In Japanese Civil Law, Wei Zhang
Wei Zhang
The purge of mortgage is believed to be one of the few French remnants in the otherwise largely German style Japanese Civil Code. Since the breakdown of Japanese asset price bubble in early 1990s, it has been blamed as one major obstacle to clearing up nonperforming loans held by Japanese banks, and a central target subject to abolishment. In this paper, I analyzed the structural problems existing in the Japanese purge system and also probed the history and social background behind the debates about its abolishment. I proposed that, instead of total abolition, a restructured purge system, in particular getting …