The Consumer Debt Clearance Statute Article 117
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.
If, at the time of the court's ruling on the initiation of the liquidation process, the creditor owes debts to the debtor, offset may be made without following the liquidation process, regardless whether the categories of money and other property are same.The creditor's claims which are subject to expiration, or which may be released only if certain conditions are met, may be offset.Any claims that become effective only when a certain condition is met, may be offset if the condition is fulfilled within 30 days of the public announcement of the list of claims.With respect to any offset, the creditor subject to resolutory condition shall provide reasonable security, and the provision of paragraph 2 of Article 124 shall apply mutatis mutandis thereto.The provision of paragraph 2 of Article 52 shall apply mutatis mutandis to the circumstances under paragraphs 1 to 3 of this article.