Insolvency Law In Emerging Markets
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Insolvency Law In Emerging Markets
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Author : Aurelio Gurrea-Martínez
language : en
Publisher:
Release Date : 2020
Insolvency Law In Emerging Markets written by Aurelio Gurrea-Martínez and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
A well-functioning corporate insolvency system can serve as a valuable tool to promote entrepreneurship, innovation, access to finance and economic growth. Therefore, if having an efficient insolvency framework is essential for any country, it becomes even more important for emerging economies due to their potential for growth and their greater financial needs. Unfortunately, the academic literature has generally paid more attention to the regulation of corporate insolvency in developed countries. Thus, it has largely omitted the debate about the optimal design of insolvency law in jurisdictions that, in addition to requiring a more active policy debate, amount to 85% of the world's population and 59% of the global GDP, since they include some of the world's largest economies such as China, India, Brazil, Russia and Indonesia. This article seeks to fill this gap in the academic literature by analyzing the problems and features of insolvency law in emerging markets and suggesting a new framework for financially distressed companies in developing economies. It will be argued that, even though, in an ideal scenario, any improvement of the insolvency framework in emerging markets should start by enhancing the judicial system and the sophistication of the insolvency profession, these reforms usually take time, resources and political will. In fact, due to a variety of factors, they might never occur. For this reason, this article suggests a corporate insolvency framework for emerging economies taking into account the current market and institutional features of these countries, which generally include inefficient courts, unattractive insolvency laws, unsophisticated insolvency practitioners, and the prevalence of small companies and large controlled firms.
Reinventing Insolvency Law In Emerging Economies
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Author : Aurelio Gurrea Martínez
language : en
Publisher:
Release Date : 2023
Reinventing Insolvency Law In Emerging Economies written by Aurelio Gurrea Martínez and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with Bank failures categories.
"This book analyses how and why insolvency law in emerging economies needs to be reinvented. It also explores the role of insolvency law in the promotion of economic growth as well as the similarities and divergences in the design of insolvency laws around the world"--
Corporate Insolvency Law And Bankruptcy Reforms In The Global Economy
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Author : Kashyap, Amit
language : en
Publisher: IGI Global
Release Date : 2018-09-28
Corporate Insolvency Law And Bankruptcy Reforms In The Global Economy written by Kashyap, Amit and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-28 with Business & Economics categories.
With the increasing interdependence of global economies, international relations are becoming a more complex system. Through this, the growth of any economy is dependent upon the ease of business transactions; however, in recent times, there has been a growing impact of corporate insolvency law. Corporate Insolvency Law and Bankruptcy Reforms in the Global Economy is an essential reference source that discusses the importance of insolvency laws in the financial architecture of emerging economies, as well as its fundamental issues. Featuring research on topics such as business restructuring, debt recovery, and governance regulations, this book is ideally designed for law students, policymakers, economists, lawyers, and business researchers seeking coverage on the jurisprudence and policy of corporate insolvency law in a globalized context.
Insolvency Law Reforms In Asian Developing Countries
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Author : Yuka Kaneko
language : en
Publisher: Springer Nature
Release Date : 2022-01-16
Insolvency Law Reforms In Asian Developing Countries written by Yuka Kaneko and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-16 with Law categories.
This book examines the outcomes of the economic law reforms in Asian developing countries, guided by the leading international development financiers such as the World Bank and the Asian Development Bank. Included is a particular focus on the recent “insolvency law” reforms in the Asian emerging economies, such as Vietnam, Laos, and Myanmar. Such legal reforms are the results of the “transplant” of the model law provided by these donor agencies, a law that was created in the post-Asian Currency Crisis in the 1990s. This book therefore examines the outcomes of three decades of donor-guided legal reforms. Appropriately, it applies not only the static approach to the legal texts but also an empirical methodology through interview surveys of the corporate and financial sectors. Following the introduction in Chapter I, Chapter II reviews the basic theories and presents the methodological framework. Chapter III then analyzes the contents of insolvency law reforms in the major target countries, namely, Vietnam, Laos, and Myanmar. Chapter IV provides a closer investigation into the design choices of Myanmar’s 2020 Insolvency Law as a typical example of the law reform involving the inter-donor conflict of law models between the Asian Development Bank and Japan’s official development assistance project. Lastly, Chapter V applies an empirical approach to the functioning of insolvency law, through international collaboration for interview surveys with small and medium-sized enterprises (SMEs) and their financiers.
Insolvency Systems In Asia An Efficiency Perspective
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2001-03-07
Insolvency Systems In Asia An Efficiency Perspective written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-03-07 with categories.
This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
Insolvency Systems In Asia An Efficiency Perspective
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2001-03-07
Insolvency Systems In Asia An Efficiency Perspective written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-03-07 with categories.
This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
Corporate Debt Restructuring In Emerging Markets
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Author : Richard Marney
language : en
Publisher: Springer Nature
Release Date : 2021-09-02
Corporate Debt Restructuring In Emerging Markets written by Richard Marney and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-02 with Business & Economics categories.
Corporate debt restructurings in the emerging markets have always presented special challenges. Today, as the global economy emerges from the COVID-19 pandemic and businesses look to pick up the pieces, this is even more true. For many, the financial hangover of the lockdowns and market disruptions linger and threaten their independence, even their survival. This peril is more acute in the emerging and frontier markets. Weaker economic fundamentals and institutional resiliency often intensify the challenge to return to pre-COVID-19 operating levels and financial sustainability. In this context, borrowers invariably must address the imbalance of substantial existing debt with the “new reality” of their business operations and revenues. This book, using case studies, presents a full, detailed narrative of a fictitious troubled bank in an emerging market, with characters, dialogues, and negotiations. It also includes a series of discussion questions with suggested answers, to draw out key issues from the case. In doing so, this initial narrative offers a substantive analysis of the five main phases and principles of a restructuring: (1) pre-restructuring, (2) the decision to restructure, (3) the case set-up, (4) structuring and negotiation, and lastly (5) implementation. In each chapter, the book outlines the main elements of the phases and shows how the elements are applied in practice. The book also presents separate chapters on exogenous shocks (with a focus on the COVID-19 pandemic as an example of such shocks), macroeconomics, and legal issues present in cross-border restructurings. It will be of interest to the international professional financial and legal community, primarily junior-to mid-level financiers, business people, and lawyers.
Insolvency Systems In Asia
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Author :
language : en
Publisher: OECD
Release Date : 2001
Insolvency Systems In Asia written by and has been published by OECD this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
China S New Enterprise Bankruptcy Law
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Author : Yongqian Xu
language : en
Publisher: Routledge
Release Date : 2016-05-23
China S New Enterprise Bankruptcy Law written by Yongqian Xu and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-23 with Law categories.
China has recently entered a significant stage in its economic transition with the introduction of a new and seemingly sophisticated bankruptcy law drawing inspiration from mature insolvency systems. However, this new law is likely to face significant challenges within its implementation due to weaknesses in the countries legal and social infrastructure. China's New Enterprise Bankruptcy Law clearly presents the structure of China’s reformed legal bankruptcy system by introducing the framework and analyzing typical cases which have been or are being heard since the new bankruptcy law was operational. Written by Chinese experts with a professional interest and specialist knowledge of insolvency law, this volume serves as an indispensable guide for academics and researchers in the area, as well as practitioners and professionals involved with Chinese business law.
Bank Insolvency Law In Developing Economies
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Author : Kayode Akintola
language : en
Publisher: Taylor & Francis
Release Date : 2022-12-30
Bank Insolvency Law In Developing Economies written by Kayode Akintola and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-30 with Law categories.
The subject of bank stability has been under a great amount of political and legislative scrutiny since the mid-2007 to late-2009 global financial crisis. However, these efforts have centred on developed economies. Little coverage is given to strategies adopted by many developing economies. While there is a global discourse on the subject of insolvency generally, there is ample scope to contribute to the growing body of work on the narrow subject of bank insolvencies. This book provides a unique perspective on an emerging theme in at least two respects. First is the focus on selected developing economies and selected developed economies in the EMEA region alongside cross-border developments, with the objective of deciphering the regulatory approach to bank insolvencies. The second is the analytical consideration of methods that may be implemented to preclude or resolve bank insolvencies in developing economies. This book explores the nexus between developing economies and their banking institutions. Developing economies are acutely dependent on their banks for the functioning of their cash-based economies. Recent events, however, suggest a weakness in the long-term viability of some of their banks and a mixed-bag regulatory approach to redress this weakness. This book evaluates the effectiveness of regulatory frameworks in selected developing economies that are designed to prevent or resolve the insolvency of banks. At a time of global economic uncertainty, this book will prove to be a valuable resource to the discourse on the viability of banks, businesses, and economies in developing States.