The Fourth Forum for Asian Insolvency Reform (FAIR) took place in New Delhi, India, on 3-5 November 2004.  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 Ministry of Finance and Economy (Banking Division), Ministry of Company Affairs and INSOL India.

 

The meeting brought together approximately 85 participants from 9 countries from the Asia region (Bangladesh, China, Chinese Taipei, Hong Kong China, India, Indonesia, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, Thailand and Vietnam), as well as the Russian Federation, and 5 OECD member countries (Australia, Japan, Netherlands, United Kingdom and the United States), as well as representatives of international organisations (Asian Development Bank and the World Bank). Discussions at the meeting focused on insolvency systems and risk management in Asia.

 

Proceedings

Agenda

SESSION I: Risk management systems: the framework and practices in Asia

• Bridging credit risk and credit access: insolvency systems and credit risk management, Mr. Morgan Kelly,  Australia
• Regulatory, institutional framework and practices of risk management in Asia and the interface with insolvency systems, presentation, Mr. Philip D. Sherman, Risk Management Association
• Risk Management in the Chinese Banking Sector, Mr. Shi Jiliang, Vice Chairman, China Banking Regulatory Commission
  

SESSION II: Trends and Developments in Risk Management and Insolvency Reforms in South East Asia

• Overview of legal and institutional trends in risk management and insolvency reforms in South East Asia, Mr. Lampros Vassiliou, Lead OECD Consultant on Asian Insolvency
• Changing the Japanese culture to enable early revitalisation of troubled companies, Mr. Shinjiro Takagi, IRCJ
• The Chinese new draft bankruptcy law and its implications for credit access and risk management, Mr. Li Shuguang, China University of Politics and Law
• Enforceability of close-out netting in the People’s Republic of China, Ms. Jacqueline Low, International Swap and Derivatives Association (ISDA)
• Building successful insolvency risk management systems: Lessons from Asia, Dr. Terrence Halliday, American Bar Foundation
  

SESSION III: Managing major Asian collapses: the importance of insolvency frameworks for investment in distressed assets and risk management in Asia

• The Asian Pulp and Paper Debacle, Mr. Michael Sloan, Blake Dawson Waldron and  Mr. Ron Harmer, ADB Consultant, Blake Dawson Waldron
  

SESSION IV: Challenges of asset reconstruction and securitisation in risk management in Asia

• The experience of Asset Management Companies in Asia: implications for risk management and policy, presentation, Mr. Guonan Ma, Bank of International Settlements
• Options for Structuring Asset Reconstruction Companies, Mr. Richard Fisher, BDW
• The ADB's role in encouraging and facilitating asset reconstruction companies, Mr. William Willms, ADB
  

SESSION V:  Trends and developments in risk management and insolvency reforms in Asia

• India: Mr. M.R. Umarji, Indian Banker’s Association
• Sri Lanka: Ms. Joan P T De Zilva, Central Bank of Sri Lanka
• Pakistan: Mr. Salman Shaikh, Turnaround Consulting
• Nepal: Mr. C.B. Ramamurthy, Nabil Bank Ltd
• Bangladesh : Mr. Sameer Ahmad, Agrani Bank
  

Topical and Country Papers

• China: Prof. Wang Weiguo, China University of Politics and LawMigration
• Chinese Taipei: Prof. Christina Liu, Legislative Yuan and Prof. George Lin, Lin and Partners Attorneys-at-Law
• Hong Kong China: Mr. Charles Booth, Asian Institute of Financial Law
• Indonesia: Mr. Aria Suyudi, Centre for Indonesian Law and Policy,
• Indonesia: Mr. Aria Suyudi, Ms. Anika Faisal, Danamon Bank and Dr. Wimboh Santoso, Central Bank of Indonesia
• Philippines: Mr. Gilbert Gallos, Abello Concepcion Regala & Cruz , Mr. Juan de Zuniga, Bangko Sentral Ng Pilipinas and Mr. Cesar Villanueva, Villanueva, Bernado & Gabionza
• Singapore: Mr. Sean Tan, Tan Kok Quan Partnership and Mr. Eng Hai Aw, Grant Thornton
• Sri Lanka: Mr. Kandiah Neelakandan, Murugesu & Neelakandan Attorneys-at-Law
• Thailand: Prof. Paroj Vongvipanond Dhurakij Pundit University
• Vietnam: Mr. Hoang Tien Loi, Mecong Co. Ltd