The Consumer Debt Clearance Statute Article 112
This English translation was last updated on 2018-12-26, but the Chinese text was amended on 2021-06-16. Later amendments may not be reflected in the translation — please refer to the Chinese text.
Before the court's ruling on the initiation of the liquidation process, the rights of any creditors with a pledge, mortgage, lien or other security right in rem over the property of the debtor, shall be exempt from the liquidation process.A creditor with exemption rights may not exercise his/her rights irrespective of the liquidation process. However, if necessary, the administrator may auction or sell off the objects of exemption rights, and use the net proceeds from their sale after deducting expenses for the repayment, and may ask the court to request the competent registration authority to cancel the registration of such rights.
中文原文 消費者債務清理條例第112條
在法院裁定開始清算程序前，對於債務人之財產有質權、抵押權、留置權或其他擔保物權者，就其財產有別除權。
有別除權之債權人得不依清算程序行使其權利。
但管理人於必要時，得將別除權之標的物拍賣或變賣，就其賣得價金扣除費用後清償之，並得聲請法院囑託該管登記機關塗銷其權利之登記。
有別除權之債權人得不依清算程序行使其權利。
但管理人於必要時，得將別除權之標的物拍賣或變賣，就其賣得價金扣除費用後清償之，並得聲請法院囑託該管登記機關塗銷其權利之登記。