Permanent URL: www.oecd.org/daf/corporateaffairs/insolvency
Insolvency systems play a major role in a modern market economy. Strong insolvency systems contribute to the efficient use of resources and hence economic growth. They also help underpin investor confidence and financial stability.
Notwithstanding impressive progress with reforms in Asia, insolvency related issues remain a major concern for the region. The sheer volume of company debt overhang and the gap between insolvency rules and their practical implementation suggest that insolvency reform should remain at the top of the policy agenda.
Against this background, the Forum on Asian Insolvency Reform (FAIR) has been set up by the OECD in co-operation with the Asia-Pacific Economic Co-operation Forum (APEC) and the Asian Development Bank (ADB), with assistance from the governments of Japan and Australia. FAIR gathers key policy makers, members of the judiciary, academics, insolvency practitioners and other private sector participants who meet on a regular basis.
FAIR's main objectives are to: