As economies continue to recover from the effects of the pandemic, the need for effective and integrated cross-border insolvency and restructuring solutions has come to the fore. This is underscored by a number of high profile cross-border restructurings in Asia over the past two years across pivotal industries, including aviation, property, textiles, and construction.
Responding to this need, Asian jurisdictions have been diligent in putting in place measures to facilitate cross-border cooperation. In May 2021, Hong Kong and Mainland China entered into an arrangement for the mutual recognition of and assistance . In July 2021, Malaysia and Singapore implemented protocols on court-to-court communication in cross-border corporate insolvency matters. Recent decisions from the Indonesia courts suggest a more permissive approach towards recognition of foreign restructuring proceedings. At a supranational level, UNCITRAL has developed and is pushing for the adoption of the UNCITRAL Model Law on Enterprise Group Insolvency.
The panel, featuring insolvency practitioners from across the key Asian jurisdictions where judicial co-operation and innovation has been initiated, will discuss these developments with reference to recent decisions and the UNCITRAL Model law framework. Based on these, the panel will provide their perspectives on where gaps remain, and practical suggestions on how practitioners and the business community can prepare and leverage the upcoming changes.
INSOL Member: £15