Scope of Effectiveness of Agreements Article 571 An agreement is effective on behalf of the Liquidating Stock Company and all Agreement Claim Creditors, and binds them.
An agreement does not affect security interests provided for in Article 522, paragraph (2) held by creditors provided for in that paragraph, rights that Agreement Claim Creditors hold jointly with guarantors of the Liquidating Stock Company or otherwise with the Liquidating Stock Company, against persons owing obligations, or collateral provided by persons other than the Liquidating Stock Company for the benefit of the Agreement Claim Creditors.
協定の認可の決定が確定したときは、協定債権者の権利は、協定の定めに従い、変更される。
When a ruling approving an agreement becomes final and binding, rights of Agreement Claim Creditors are changed pursuant to the provisions of the agreement.
Notwithstanding the provisions of the preceding paragraph, the effect of a change of rights under the provisions of the agreement as regards a claim in respect of foreign taxes subject to mutual assistance may be asserted only in relation to the mutual assistance under the provisions of Article 11, paragraph (1) of the Act on Special Provisions for Enforcement of Tax Treaties.
