A rehabilitation plan for UNIZO Holdings, a real estate company that went bankrupt in April 2023 and applied to the court for application of the Civil Rehabilitation Act, was approved at a meeting of creditors held on the 6th, and the court approved the plan. has been approved.
In response to this, UNIZO received a large amount of debt forgiveness, sold its domestic business, and proceeded with the process of repaying creditors.
In April 2023, UNIZO Holdings applied for application of the Civil Rehabilitation Law to the court with debts of over 120 billion yen, and in December 2023, it plans to sell its domestic hotel business and office business. A proposed rehabilitation plan was submitted to the court.
On the 6th, a meeting of creditors was held at the Nakameguro building of the Tokyo District Court, and the rehabilitation plan was approved by all creditors.
Following this, the court approved the plan.
In accordance with this plan, UNIZO will receive an exemption equivalent to 80% of the principal and interest of receivables exceeding 1 million yen, sell its domestic hotel business and office business, etc., and use the funds for repayment. Our policy is to do so.
In addition to filing a lawsuit seeking compensation for damages from four members of the former management team, including the former president, in another lawsuit, the company claimed that it paid a total of over 900 million yen to the four in consulting fees and retirement benefits for executives. We are seeking a refund and are planning to hold the current executives as well as the former management team accountable.