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Asian Insolvency Systems: Closing the Implementation Gap

image of Asian Insolvency Systems: Closing the Implementation Gap

As Asian markets are now increasingly integrated in the world economy their domestic insolvency systems need to meet the expectations of international investors and lenders. Many Asian jurisdictions are responding by reforming  insolvency laws, introducing new procedures and strengthening institutions, but others are much less active. This conference proceedings includes papers showing how far various Asian countries have come in building effective and predictable insolvency systems and shows to what extent their systems provide confidence to investors and lenders.

English

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Insolvency and social protection: employee entitlements in the event of employer insolvency

The most valuable assets of any country are its employees, and economic progress and development often hinge upon the degree to which the citizens of a country can be gainfully employed on a sustainable basis. In an increasingly global economy, businesses face enormous competitive pressures to minimise costs and maximise returns, often at the expense of domestic labour. Of course, there are winners and losers in this process, as jobs from one country are outsourced to another. Traumatic as this is, it is part of an inevitable cycle and is not nearly as traumatic as the more abrupt losses that befall employees when their employer files for bankruptcy.

English

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