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.


The court's role in enterprise bankruptcy proceedings and restructuring in China

Bankruptcy is a final stage where a market subject exits the market due to its business failure. From a court’s point of view, a bankruptcy law is actually the procedural and substantive law applied by the court while liquidating debtors. Courts pay great attention to the legislation and reform of bankruptcy laws. The Supreme People’s Court of China participated actively in the formulation of the Enterprise Bankruptcy Law and uses its practical experience to perfect the current bankruptcy system by adopting methods of judicial interpretation and case guidance.


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