Bankruptcy law of Ukraine is in times of active reform. Thus, of particular relevance are studies of world systems of insolvency law in order to find effective mechanisms for regulation. In this article the author examines the legal instruments of the insolvency law of Japan. Highlight the main bankruptcy procedure and the impact on their formation of national peculiarities. In particular, attention is paid to the individual mechanisms of legal regulation of the characteristic Japanese legal system. The reorganization of a bankrupt puts a priority in Japanese law and it attracted the interest. The author examines them in terms of effectiveness and appropriateness of use. Investigate the possibility of the implementation of the national legal system of a number of legal structures, described in the article.