개인회생절차와 민사집행절차와의 관계

Influence of the Individual Rehabilitation Procedure on Civil Execution Procedure

If individuals or companies face the economic bankruptcy in South Korea, the procedure to treat it includes the legal rehabilitation procedure about the debtor rehabilitation and bankruptcy, bankruptcy procedure, individual rehabilitation procedure, and corporate financial structure work-out defined by corporate structure promotion law. The individual rehabilitation procedure is a procedure that a debtor who has a cause of bankruptcy or the cause is likely to happen has the total debt amount 500 million won in case of unsecured debt, 1 billion won for guaranteed debt. If the salaried employees or sales income earners pay off certain amount for 5 years as a rule, they can be exempted from the balance. The debtor rehabilitation procedure is a system that gives debtors a chance to reconstruct economically through the debtor s debt adjustment or exemption. It inevitably influences the right exercising of interested parties such as creditor to cause an effect of limiting this to a degree. Particularly, it restricts the effect following the civil action or civil execution to a degree to limit the creditors right exercising. Hereupon, the following is aimed at generally examining the individual rehabilitation procedure that is most commonly being used among the insolvency procedure and aimed at examining what effect the individual rehabilitation procedure has on the civil execution procedure that will be initiated in the future or that is being initiated already.