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This conference proceedings discusses progress with Asian insolvency reforms made since 1997-98 and presents summaries of the situation in each country.
The volume of debt hanging over Asian companies suggests that corporate insolvency should remain a top policy concern. This, despite signs of improvement resulting from the reforms that took place in the last ten years in the region. Morevover, the absence of widespread real restructuring following corporate collapses in Asia may force governments to acknowledge higher real losses dissimulated in their financial systems. Effective risk management practices, sound legal systems for restructuring, liquidation and recovery, and the underlying institutions and capacity require increased attention by Asian countries.
Have Asian risk management systems helped in avoiding new non-performing loans? How much progress has been made in improving the law and the practice for addressing the existing stock of bad debts? What are the new initiatives underway? Some answers to these questions can be found in this volume. It contains the proceedings of the Forum for Asian Insolvency Reform, held in New Dehli, India, on 3-5 November 2004. It brings together a regional and country perspective on recent trends and developments in insolvency and risk management in the region.
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