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.

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.

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.

Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.

Insolvency law reform has become a subject of public urgency in many countries in the past two decades and particularly in much of Asia over the last ten years. This volume provides an overview of insolvency laws and related rules and procedures in the countries of East Asia. The book comprises two introductory chapters dealing with issues such as legal culture and cross-border insolvency, before examining the fourteen principal jurisdictions in the region. Each chapter addresses the key themes of different insolvency regimes, such as: the legal system and culture; personal insolvency laws; corporate insolvency rules; court-based schemes of arrangement; winding-up procedures; liquidators; enforcement; and offences. This title will be an invaluable guide to academics, practitioners and policy makers working in the areas of comparative and commercial law.

A conference proceedings that provides a regional and country perspective on Asian insolvency reform, including individual Asian country reports, and reports on broader international trends and developements.

Through an in-depth legal analysis by leading scholars, this book searches for the exact legal causes of land-related disputes in Asia within the histories, legal systems and social realities of the respective countries. It consists of four main parts: examining the relationship between law and development; land-taking in developmental stages; common ownership; and proposals for new approaches to land law and dispute resolution. With a combination of orthodox legal interpretations and the empirical approach of legal sociology, the contributors undertake an extensive comparative legal analysis across common and civil law traditions. Most importantly, they propose pathways forward for legal transformations in the pursuit of sustainable development in Asia. This book is vital contribution to the study of comparative law, and especially property law, in East and Southeast Asia.

The processes of legal and economic integration at a regional and global scale have created powerful legal and economic dilemmas. They challenge the paradigms of constitutionalism,including the State's monopoly of constitutionalism, the autonomy of national political communities and the traditional forms of participation and representation. The phenomena of globalisation and regional forms of governance have promoted the inter-dependence of national political communities and destroyed the artificial boundaries upon which national constitutional democracies are found and from which they derive their legitimacy. Furthermore, it is inevitable that the development of international trade and economic integration will raise claims for some form of global distributive justice to complement the wealth maximisation arising from free trade. This will come from the gradual development of global forms of political discourse and law–making, challenging State constitutionalism and requiring some of the instruments and theories of constitutionalism. The essays in this collection, written by leading scholars in international trade law, argue the pros and cons of greater regional and global regulation. They conclude that whatever the final framework for international trade, the critical decisions about institutional form and content will be decided in an emerging global political arena. They help to identify this political arena, who governs it, and according to which rules, and identify the different institutional alternatives in that global political arena.

The understanding of the economic and legal structure of the institutions of bankruptcy has increased considerably over the past decade. This publication describes the state of current knowledge. Containing both theoretical studies and evidence from recent case studies, it shows the possibilities and methods of legal reform and the pitfalls of misguided political action.

The massive and complex process of change in East Asia over recent decades has brought about a transformation in the nature of law and legal institutions in the region. Whilst the process of change has to some degree mimicked western models of law and legal change, there have been significant differences in approach due to the different social foundations of East Asian societies. The more obvious of these has been the variety of ways in which rule of law ideas have been adopted in many East Asian countries where the role of the state is more dominant when compared with Western models. This volume brings together a selection of the most important writings on East Asia of researchers in recent years, and shows the broad range of questions which researchers have been addressing about the effect of law reform and legal change in societies dominated by traditional values and political forces, and at a time of massive economic change.