Corporate governance principles

5th Forum for Asian Insolvency Reform (FAIR), Beijing, China, 27-28 April 2006


The 5th meeting of FAIR took place on 27-28 April 2006 in Beijing, China. It was co-hosted by the Development Research Centre of the State Council of China. FAIR V gathered more than 150 participants from 24 jurisdictions (Australia, Bangladesh, Belgium, Canada, China, Chinese Taipei, Hong Kong China, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Myanmar, Nepal, the Netherlands, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, United Kingdom, United States, Vietnam) and 6 international organisations (ADB, APEC, IMF, UNCITRAL, the WB and OECD).


Participants examined the lessons from ten years of institutional and legal reforms of Asian insolvency systems. They discussed the relevance of the international guidance to improving insolvency systems and focused in particuar on the World Bank Principles on Insolvency and Creditor Right Systems, the UNCITRAL Legislative Guide on Insolvency and the UNCITRAL Model Law on Cross-Border Insolvency.   The gap between insolvency reforms and their effective implementation was considered as a primary challenge for Asian poilcy makers and it was agreed that there is a need to shift the focus of FAIR from stock taking to support for capacity building, and more technical and country specific dialogue on insolvency.


Agenda (pdf)


Topical papers

Country papers

Further reading



Session I: Asian insolvency reforms in the last decade

Session II: Enterprise reorganisation

Session III: Informal workouts

Session IV: Courts and the judiciary

Session V: Regulatory and institutional issues

Session VI: Priority claims

Session VII: Creditor participation

Session VIII: Treatment of corporate groups

Session IX: Cross-Border Insolvency


Topical papers


Country papers







Further reading