Establishment of a Network of public and private sector experts for on-going dialogue on insolvency

FAIR partner organisations and participants are in favour of intensifying information sharing and co-operation on capacity building through the establishment of a FAIR Network of public and private sector experts for on-going dialogue on insolvency. This is a proposal of the Australian Government, which was endorsed by the APEC Technical Working Group on Insolvency in 2006. The Network responds to a perception shared at FAIR meetings, that greater communication on reform issues at a regional level would make a significant positive contribution to development of effective reform measures focused on effective implementation of existing legal frameworks, and is likely to lead to project-focused cooperative work, possibly at the sub-regional level. The proposed regional Network is a key for ensuring sustainability of the outcomes of the FAIR meetings and the relevance of its future work. 

It is envisaged that the Network will be established in 2007. It would comprise a group of people involved in developing insolvency systems in the Asian region, including representatives of governments, significant donors, technical experts, regional/international organisations and academia. The Australian Treasury, in cooperation with the OECD and other relevant  regional/international organisations, will invite persons to be members of the regional network. The core of the membership would be public sector officials responsible for advising governments on insolvency reform. 

Information sharing would take place electronically, through a dedicated web-site or within an electronic discussion group. Network members would meet annually, back-to-back with the FAIR to discuss their future activities. Over time, the Network could accumulate knowledge about initiatives and their outcomes, which could be a resource that members could consult when considering the scope, coordination and sequencing of future initiatives. Moreover, international and bilateral members of the network can benefit from the on-going dialogue by supporting participating Asian governments’ insolvency efforts by building upon programmes and initiatives already in place, avoiding duplications and facilitating, whenever possible, joint initiatives. 

FAIR meetings:

• The fifth meeting of the FAIR took place in Beijing, China, 27-28 April 2006
• The fourth meeting of the FAIR took place in New Delhi, India, 4-5 November 2004 
• The third meeting of FAIR took place in Seoul, Korea, 10-11 November 2003
• The second meeting of FAIR took place in Bangkok, Thailand, 16-17 December 2002
• The first meeting of FAIR took place in Bali, Indonesia, on 7-8 February 2001

FAIR Publications:

• Credit Risk and Credit Access in Asia
• Maximising Value of Non Perfoming Assets - Proceedings from FAIR III
• Informal Workouts, Restructuring and the Future of Asian Insolvency Reform - Proceedings from FAIR II
• Insolvency Systems in Asia: An Efficiency Perspective  -March 2001