FORUM FOR ASIAN INSOLVENCY REFORM

The OECD has been active in insolvency reform, particularly with respect to Asia and Central / Eastern Europe, since 1993. At the November 1999 meeting on Insolvency Systems in Asia, the OECD was urged to continue promoting policy dialogue in the region.

As a result, the OECD, in co-operation with APEC, AusAID, the World Bank and the government of Japan, established the Forum for Asian Insolvency Reform (FAIR)  to discuss and exchange experience on insolvency reform in the Asian Region.

Weak insolvency systems have been identified as one of the key shortcomings of the investment climate in Asian markets. Long term investment flows will not resume unless credible reform of these systems takes place.