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White & Case is very pleased to present the second edition of the White & Case Asia Pacific Restructuring and Insolvency Guide. The Guide gives a detailed overview of the restructuring and insolvency laws, regulations and procedures in 16 key jurisdictions: Australia, England & Wales, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, China, Philippines, Singapore, South Korea, Taiwan, Thailand, US and Vietnam.
Strong, functioning restructuring and insolvency regimes are the cornerstone of a modern market economy and a key factor in bringing investor confidence and financial stability. Many of the regimes in the Asia Pacific will be increasingly tested as the 'new normal' of lower for longer commodity prices, rising non-performing loans, the slowdown in China's growth, tightening credit markets and impending debt maturities start to reverberate across the region's markets, bringing an expectation that market conditions will continue to worsen in the region with a corresponding rise in distress situations. In particular, we have seen the effects of such reverberation in the mining, oil & gas, maritime and offshore, shipping, real estate and gaming industries regionally, and both the challenges and opportunities that has created, and continues to create.
With that in mind, the Guide has been designed to provide a practical, comprehensive reference point when encountering distressed situations in the region, from the first warning signs through to dealing with enforcement and formal insolvency procedures or completing a restructuring. It is also designed to assist in structuring transactions to account for potential issues and assessing credit risk from the outset.
Structure of the Guide
Each chapter of the Guide sets out the following for jurisdictions covered:
- Main legislation governing insolvency and restructuring regimes
- Security, formalities and perfection
- Enforcement of security
- Remedies available to secured creditors
- Priority of claims
- Foreign judgements and orders
- Recovery of assets
This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
© 2016 White & Case LLP