The court-appointed administrator of the failed Seagaia resort group approved on Monday a 56.5 billion yen portion of the 643.6 billion yen in credits being sought in 3,696 cases against the group.
The accepted portion includes taxes the Seagaia group owes to local municipalities.
The Miyazaki District Court is trying to determine the value of Seagaia's outstanding debts in order to repay the failed semipublic resort group's creditors. Today's session was the first in the case.
The court-appointed administrator, Yasumasa Sato, protested about 170 million yen of the claims. But he reserved opinion on about 200.7 billion yen in credits with collateral assets, due to complicated ownership issues and difficulty in determining their value.