Corporate governance principles

3rd Forum for Asian Insolvency Reform (FAIR), Seoul, Korea, 10-11 November 2003

 

The Third Forum for Asian Insolvency Reform (FAIR) took place in Seoul, Korea on 10-11 November 2003.  The Forum was organised by the Organisation for Economic Co-operation and Development (OECD), the Asian Development Bank, in partnership with the World Bank and the Japanese government. It was co-hosted by the Korean Ministry of Finance and Economy (MOFE), Financial Supervisory Commission (FSC), with assistance provided by the Korea Development Institute (KDI) and the Korea Asset Management Corporation (KAMCO).

 

The meeting brought together approximately 85 participants from 9 countries from the Asia region (China, Chinese Taipei, Hong Kong China, India, Indonesia, Malaysia, Pakistan, Philippines, and Thailand), as well as the Russian Federation, and 8 OECD member countries (Australia, Belgium, Italy, Japan, Korea, Netherlands, United Kingdom and the United States), as well as representatives of international organisations (Asian Development Bank, UNCITRAL and the World Bank). Discussions at the meeting focused on maximising the value of non-performing assets.

Opening Speeches

Materials

Session I -  Trends in Addressing Distressed Assets and Vehicles for Maximising Value in Asia:  An Efficiency Perspective

  • Presentation : Overview of Legal and Institutional Trends in Asia in Addressing Distressed Assets and Vehicles for Maximising Value, Mr. Lampros Vassiliou, Lead OECD Consultant, Head of Corporate Insolvency & Restructuring-Asia, Allens Arthur  Robinson/Siam Premier
  • Paper  and Presentation : Mr. Salman Ali Shaikh,  Banking Law Reform, Pakistan
  • Paper : Professsor Weiguo Wang, China University of Politics and Law
  • Presentation : Mr. Feisal Naqvi, Banking Law Reform, Pakistan
  • Paper  and Presentation : Mr. Bacelius Ruru, Chairman and Mr. Samuel Tobing, Chief Operating Officer, Jakarta Initiative Task Force, Indonesia
  • Presentation : Indonesian Bank Restructuring agency (IBRA)
  • Paper : Philippine Trends in Addressing Distressed Assets and Vehicles for Maximising Value, Mr. Cesar Villanueva, Philippines

 

Session II - The Role of Policy and the Framework for Policy Implementation

  • Paper : International Comparison of the Legal Framework of NPA and Normalization Issues, Mr. Jae Ryong Jeong, former KAMCO president
  • Presentation : Informal Workouts as a Means for Addressing Legal Shortcomings, Mr. Thierry Bosly, White & Case;  Universities of Louvain and Paris I
  • Presentation : Mr. Edward Cairns, White & Case, Hong Kong, China
  • Presentation :  Ms. Sherri Chuang, Senior Auditor Ministry of Finance, Chinese Taipei
  • Paper : Mr. Tumnong Dasri, Director, Bank of Thailand


Session III - Asset Management Companies (AMCs) in Asia: Experiences and Current Challenges

  • Paper  and Presentation : The Industrial Revitalization Corporation of Japan: Strategy and Techniques, Mr. Shinjiro Takagi, Chairman, Industrial Revitalization Commission, Japan
  • Paper : Mr. Jianzhong Hu, China Great Wall Asset Management Corporation
  • Presentation : Mr. Shariffuddin Khalid, General Manager, Pengurrusan Danaharta Nasional BHD, Malaysia
  • Paper : Mr. Yong-Ho Oh, Executive Director, KAMCO
  • Paper : Mr. William P. Mako, Senior Analyst, Corporate Restructuring, Private Sector Development Department,  World Bank

Session IV - Non-Performing Loans Between Companies

  • Presentation : Advantages of Inter-Firm Credit in Dealing with Non-Performing Assets, Mr. Paolo Santella, OECD Consultant seconded from Banca d’Italia
  • Paper  and Presentation : Trade Credit in Japan: Relationship with Bank Credit, Dr. Iichiro Uesugi, Fellow, Research Institute of Economy, Trade and Industry, Japan
  • Presentation : The Specificities of Trade Credit in Korea, Dr. Joon-Kyung Kim, Director of Research, Planning and Co-ordination, Korea Development Institute (KDI)
  • Presentation : The Point of View of Trade Credit Insurers, Mr. Matthew Ellerton, Euler Hermes Credit Underwriters (HK) Ltd., Hong Kong

Session V - Developing the Asian Markets for Non-Performing Assets

  • Presentation : Performance and Resolution of Non-Performing Assets: the Importance of Hard Evidence,  Mr. Pierpaolo Grippa, Banca di Italia
  • Presentation : Techniques for Financial and Operational Restructuring and their Role in Developing the Market for Non-Performing Assets in Asia, Mr. David Kidd, Allen & Overy
  • Presentation : India’s experience, Mr. S. Khasnobis,  President and COO, Asset Restructuring Company, India
    Paper : Mr. Aswani Puri, Executive Director - Corporate Finance and Recovery Services, PriceWaterhouse Coopers, India
    Paper  and Presentation : Mr. Sumant Batra, Director, INSOL, India

Session VI - Korea’s Experience

  • Presentation : Korea’s Experience in Securitisation and NPA Disposition, Mr. Yong–Kyoon Shin, Executive Vice President, KAMCO
  • Presentation : Mr. Stijn Claessens, Professor, Amsterdam University, the Netherlands

Session VII - Insolvency Law Reform in Korea

  • Presentation : Setting Insolvency Rules: A Course of Understanding and Persuading, Prof. Soogeun Oh, Ewha Woman’s University, Korea
  • Presentation : Issues Concerning Insolvency Reforms in East Asia, Mr. Terry Halliday, American Bar Foundation, USA

 

 

 

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