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Insolvency Law In East Asia
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Book Synopsis Insolvency Law in East Asia by : Roman Tomasic
Download or read book Insolvency Law in East Asia written by Roman Tomasic and published by Routledge. This book was released on 2016-05-23 with total page 573 pages. Available in PDF, EPUB and Kindle. Book excerpt: Insolvency law reform has become a subject of public urgency in many countries in the past two decades and particularly in much of Asia over the last ten years. This volume provides an overview of insolvency laws and related rules and procedures in the countries of East Asia. The book comprises two introductory chapters dealing with issues such as legal culture and cross-border insolvency, before examining the fourteen principal jurisdictions in the region. Each chapter addresses the key themes of different insolvency regimes, such as: the legal system and culture; personal insolvency laws; corporate insolvency rules; court-based schemes of arrangement; winding-up procedures; liquidators; enforcement; and offences. This title will be an invaluable guide to academics, practitioners and policy makers working in the areas of comparative and commercial law.
Book Synopsis Company Law in East Asia by : Roman Tomasic
Download or read book Company Law in East Asia written by Roman Tomasic and published by Routledge. This book was released on 2018-08-13 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this volume provides an overview of company laws in South East Asia, North East Asia and the Pacific. The chapters adopt a standard format to allow for comparisons to be made as well as highlighting key features of company laws in each jurisdiction. The contributors are experts in their fields and present practical and policy related insights. The book also contains some useful overviews of company law themes in Asia.
Book Synopsis Resolution of Corporate Distress by : Stijn Claessens
Download or read book Resolution of Corporate Distress written by Stijn Claessens and published by World Bank Publications. This book was released on 1999 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: June 1999 - Evidence from East Asia suggests that a firm's ownership relationship with a family or bank provides insurance against the likelihood of bankruptcy during bad times, possibly at the expense of minority shareholders. Bankruptcy is more likely in countries with strong creditor rights and a good judicial system - perhaps because creditors are more likely to force a firm to file for bankruptcy. The widespread financial crisis in East Asia caused large economic shocks, which varied by degree across the region. That crisis provides a unique opportunity for investigating the factors that determine the use of bankruptcy processes in a number of economies. Claessens, Djankov, and Klapper study the use of bankruptcy in Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, the Philippines, Singapore, Taiwan (China), and Thailand. These economies differ in their institutional frameworks for resolving financial distress, partly because of the different origins of their judicial systems. One difference is the strength of creditor rights, which Claessens, Djankov, and Klapper document. They expect that differences in legal enforcement and judicial efficiency should affect the resolution of financial distress. Using a sample of 4,569 publicly traded East Asian firms, they observe a total of 106 bankruptcies in 1997 and 1998. They find that: · The likelihood of filing for bankruptcy is lower for firms with ownership links to banks and families, controlling for firm and country characteristics. Filings are more likely in countries with better judicial systems; Filings are more likely where there are both strong creditor rights and a good judicial system. These results alone do not allow Claessens, Djankov, and Klapper to address whether increased use of bankruptcy is an efficient resolution mechanism. This paper - a product of the Financial Economics Unit, Financial Sector Practice Department - is part of a larger effort in the department to study corporate financing and governance mechanisms in emerging markets.
Book Synopsis Commercial Law in East Asia by : Roman Tomasic
Download or read book Commercial Law in East Asia written by Roman Tomasic and published by Routledge. This book was released on 2017-07-05 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The shift of economic gravity towards East Asia requires a critical examination of law's role in the Asian Century. This volume explores the diverse scholarly perspectives on law's role in the economic rise of East Asia and moves from general debates, such as whether law enjoys primacy over culture, state intervention or free markets in East Asian capitalism, to specific case studies looking at the nature of law in East Asian negotiations, contracts, trade policy and corporate governance. The collection of articles exposes the clefts and cleavages in the scholarly literature explaining law's form, function and future in the Asian Century.
Book Synopsis Law and Society in East Asia by : Christoph Antons
Download or read book Law and Society in East Asia written by Christoph Antons and published by Routledge. This book was released on 2017-07-05 with total page 661 pages. Available in PDF, EPUB and Kindle. Book excerpt: The massive and complex process of change in East Asia over recent decades has brought about a transformation in the nature of law and legal institutions in the region. Whilst the process of change has to some degree mimicked western models of law and legal change, there have been significant differences in approach due to the different social foundations of East Asian societies. The more obvious of these has been the variety of ways in which rule of law ideas have been adopted in many East Asian countries where the role of the state is more dominant when compared with Western models. This volume brings together a selection of the most important writings on East Asia of researchers in recent years, and shows the broad range of questions which researchers have been addressing about the effect of law reform and legal change in societies dominated by traditional values and political forces, and at a time of massive economic change.
Book Synopsis Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia by : Mr.Se-Jik Kim
Download or read book Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia written by Mr.Se-Jik Kim and published by International Monetary Fund. This book was released on 1999-10-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating investment and selling their capital goods-at a discount-to try to stay afloat. Lower investment and wasteful capital sales shrink the aggregate capital stock, trigger deflationary pressures, and contract overall output. The available data are broadly consistent with the assumptions and predictions of the model.
Book Synopsis Insolvency Law Reforms in Asian Developing Countries by : Yuka Kaneko
Download or read book Insolvency Law Reforms in Asian Developing Countries written by Yuka Kaneko and published by Springer Nature. This book was released on 2022-01-16 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the outcomes of the economic law reforms in Asian developing countries, guided by the leading international development financiers such as the World Bank and the Asian Development Bank. Included is a particular focus on the recent “insolvency law” reforms in the Asian emerging economies, such as Vietnam, Laos, and Myanmar. Such legal reforms are the results of the “transplant” of the model law provided by these donor agencies, a law that was created in the post-Asian Currency Crisis in the 1990s. This book therefore examines the outcomes of three decades of donor-guided legal reforms. Appropriately, it applies not only the static approach to the legal texts but also an empirical methodology through interview surveys of the corporate and financial sectors. Following the introduction in Chapter I, Chapter II reviews the basic theories and presents the methodological framework. Chapter III then analyzes the contents of insolvency law reforms in the major target countries, namely, Vietnam, Laos, and Myanmar. Chapter IV provides a closer investigation into the design choices of Myanmar’s 2020 Insolvency Law as a typical example of the law reform involving the inter-donor conflict of law models between the Asian Development Bank and Japan’s official development assistance project. Lastly, Chapter V applies an empirical approach to the functioning of insolvency law, through international collaboration for interview surveys with small and medium-sized enterprises (SMEs) and their financiers.
Download or read book Bankrupt written by Terence Halliday and published by Stanford University Press. This book was released on 2009-04-20 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through the lens of the Asian Financial Crisis, this book documents how international organizations and national governments crafted legal responses, through corporate bankruptcy reforms, to the fragility of financial markets in East Asia and worldwide.
Book Synopsis Court-Supervised Restructuring of Large Distressed Companies in Asia by : Wai Yee Wan
Download or read book Court-Supervised Restructuring of Large Distressed Companies in Asia written by Wai Yee Wan and published by Bloomsbury Publishing. This book was released on 2022-07-28 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of 4 economically significant Asian jurisdictions: Mainland China, India, Hong Kong and Singapore. These jurisdictions have recently either reformed – or are considering reforming – their corporate restructuring laws to promote regimes conducive to restructuring financially distressed, but otherwise economically viable, companies. Mainland China, India, Hong Kong and Singapore continue to adhere to a framework that requires the court's final approval but draw references from Chapter 11 of the Bankruptcy Code 1978 in the United States and/or the schemes of arrangement in the United Kingdom. However, the institutional and market structures are very different in Asia; in particular, Asia has a far higher concentration in shareholdings among listed firms, including holdings by families and the state, and a different composition of creditors. The book explains how, notwithstanding the legal transplantation, corporate restructuring laws in these Asian jurisdictions have adapted and evolved due to the frictions in shareholder-creditor and creditor-creditor relationships, and the role of the state in resolving non-performing loans and financial distress of state-owned enterprises which are listed, or which issue public debt. The study argues that any reforms must go beyond professionalising the insolvency professionals and the judiciary but must be designed to address fundamental issues of corporate governance, bank regulation and enforcing non-bankruptcy rules. It offers invaluable insights for academics and policy makers alike.
Book Synopsis Law, Capitalism and Power in Asia by : Kanishka Jayasuriya
Download or read book Law, Capitalism and Power in Asia written by Kanishka Jayasuriya and published by Routledge. This book was released on 2006-06-19 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: A challenging and provocative book that contests the liberal assumption that the rule of law will go hand in hand with a transition to market-based economies and even democracy in East Asia. Using case studies from Hong Kong, China, Indonesia, Malaysia, Taiwan, Japan and Vietnam, the authors argue that the rule of law is in fact more likely to provide political elites with the means closely to control civil society. It is essential, therefore, to locate conceptions of judicial independence and the rule of law more generally within the ideological vocabulary of the state.
Book Synopsis Institutionalizing Creative Destruction by : Bruce G. Carruthers
Download or read book Institutionalizing Creative Destruction written by Bruce G. Carruthers and published by . This book was released on 2003 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Restructuring Review by : Christopher Mallon
Download or read book Restructuring Review written by Christopher Mallon and published by Law Business Research Ltd.. This book was released on 2017-10-11 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Restructuring Review, edited by Christopher Mallon of Skadden, Arps, Slate, Meagher & Flom LLP, seeks to help general counsel, government agencies and private practice lawyers understand the conditions prevailing in the global restructuring market with a view to the coming year, and to highlight some of the more significant legal and commercial developments and trends that are expected to be significant in the future. As tensions in the Middle East, South East Asia and Russia remain unresolved, and the political implications of Brexit and mass immigration continue to be worked out in Europe and beyond, the realisation is dawning on many that a turn in the economic cycle may be approaching and that the severe economic crisis of 2008-9 may not be an isolated event. This book aims to outline the impact of developments like this on the global restructuring market, with in-depth looks at the issue from local experts in 28 jurisdictions. Contributors include: France - Joanna Gumpelson and Philippe Dubois, De Pardieu Brocas Maffei; Hong Kong - Tom Pugh, Mayer Brown JSM; Japan - Nobuaki Kobayashi and Yosuke Kanegae, - Nagashima Ohno & Tsunematsu; Netherlands - Paul Kuipers, Linklaters LLP; Singapore - Kenneth Lim, Allen & Gledhill LLP; Spain - Alberto Nunez-Lagos, Uria Menendez
Book Synopsis Resolution of Corporate Distress by : Stijn Claessens
Download or read book Resolution of Corporate Distress written by Stijn Claessens and published by . This book was released on 2004 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evidence from East Asia suggests that a firm's ownership relationship with a family or bank provides insurance against the likelihood of bankruptcy during bad times, possibly at the expense of minority shareholders. Bankruptcy is more likely in countries with strong creditor rights and a good judicial system - perhaps because creditors are more likely to force a firm to file for bankruptcy. The widespread financial crisis in East Asia caused large economic shocks, which varied by degree across the region. That crisis provides a unique opportunity for investigating the factors that determine the use of bankruptcy processes in a number of economies.Claessens, Djankov, and Klapper study the use of bankruptcy in Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, the Philippines, Singapore, Taiwan (China), and Thailand. These economies differ in their institutional frameworks for resolving financial distress, partly because of the different origins of their judicial systems. One difference is the strength of creditor rights, which Claessens, Djankov, and Klapper document. They expect that differences in legal enforcement and judicial efficiency should affect the resolution of financial distress.Using a sample of 4,569 publicly traded East Asian firms, they observe a total of 106 bankruptcies in 1997 and 1998. They find that: middot; The likelihood of filing for bankruptcy is lower for firms with ownership links to banks and families, controlling for firm and country characteristics.Filings are more likely in countries with better judicial systems.Filings are more likely where there are both strong creditor rights and a good judicial system.These results alone do not allow Claessens, Djankov, and Klapper to address whether increased use of bankruptcy is an efficient resolution mechanism.This paper - a product of the Financial Economics Unit, Financial Sector Practice Department - is part of a larger effort in the department to study corporate financing and governance mechanisms in emerging markets.
Book Synopsis Regulation in Asia by : John Gillespie
Download or read book Regulation in Asia written by John Gillespie and published by Routledge. This book was released on 2009-06-08 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unlike much analysis about regulation in Asia which focuses on globalisation and the transplant effect, leaving domestic influence over commercial regulation under-researched and under-theorized, this book focuses on how local actors influence regulatory change. It explores the complex economic and regulatory factors that generate social demand for state regulation and shows how local networks, courts, democratic processes and civil society have a huge influence on regulatory systems. It examines the particular circumstances in a wide range of Asian countries, provides transnational comparisons and comparisons with Western countries, and assesses how far local regulatory regimes increase economic value and convey competitive advantages.
Book Synopsis Bank and Corporate Restructuring in Crisis-affected East Asia by : Masahiro Kawai
Download or read book Bank and Corporate Restructuring in Crisis-affected East Asia written by Masahiro Kawai and published by . This book was released on 2001 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia by : Se-Jik Kim
Download or read book Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia written by Se-Jik Kim and published by . This book was released on 2006 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating investment and selling their capital goods-at a discount-to try to stay afloat. Lower investment and wasteful capital sales shrink the aggregate capital stock, trigger deflationary pressures, and contract overall output. The available data are broadly consistent with the assumptions and predictions of the model.
Book Synopsis Corporate Insolvency Law and Bankruptcy Reforms in the Global Economy by : Kashyap, Amit
Download or read book Corporate Insolvency Law and Bankruptcy Reforms in the Global Economy written by Kashyap, Amit and published by IGI Global. This book was released on 2018-09-28 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the increasing interdependence of global economies, international relations are becoming a more complex system. Through this, the growth of any economy is dependent upon the ease of business transactions; however, in recent times, there has been a growing impact of corporate insolvency law. Corporate Insolvency Law and Bankruptcy Reforms in the Global Economy is an essential reference source that discusses the importance of insolvency laws in the financial architecture of emerging economies, as well as its fundamental issues. Featuring research on topics such as business restructuring, debt recovery, and governance regulations, this book is ideally designed for law students, policymakers, economists, lawyers, and business researchers seeking coverage on the jurisprudence and policy of corporate insolvency law in a globalized context.
