News Yoyogi Animation Applies for "Rehabilitaiton"
posted on 2006-12-14 18:07 EST
Yoyogi Animation Gakuin, the largest animation institute in Japan, has applied for corporate rehabilitation under Japan's Civil Rehabilitation Law. The law, enacted in 2000, allows a company facing financial difficulty to restructure under the protection of a court, similar to Chapter 11 bankruptcy in America. The company reportedly owes more than 2 billion yen in debt.
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