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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.

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The bankruptcy criteria and priority of claims: an international comparison of insolvency laws

Comparatively speaking, the criteria used for deeming an enterprise bankrupt and the priority of labour creditors are two core problems in insolvency law. The former is the precondition for the execution of insolvency law. The latter influences the execution of insolvency law; it establishes creditors’ rights and interests, and develops an effective economic order. The Chinese Insolvency Law is about to be revised. The new one will be geared to international standards in accordance with conditions extant in China. This text summarises pertinent regulations in 42 different countries.

English

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