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)Country papers
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