Description
There is increasing regulatory interdependence amongst Central, East and South East Asian, European and North American financial markets, and these markets account for over one-third of the world’s population and global financial markets. As Asian markets become more integral to global financial economy, more cohesive, compatible and integrated insolvency and restructuring laws are essential. This two-volume work reviews why we should internationalise current cross-border insolvency and how we could restructure laws to address inadequacies.
The two volumes evaluate international regulatory reforms directed at detecting and managing cross-border insolvency and restructuring crises across the entire economy including financial markets. The authors call for schemes of arrangements and letters of comfort to be formally accepted as international legal tools. The work also assesses recent, but as yet largely unregulated developments in financial agreements, particularly the use of close-out netting provisions that serve as significant protective mechanisms prior to the declaration of an insolvency. It discusses international arbitration, data protection and artificial intelligence in crossborder insolvency and restructuring. Finally, the book seeks a meaningful balance between self-regulation through financial contracts and other party practices, and regulation imposed by governments and international financial regulators.
This extensive work will be a useful reference for legal practitioners, policy makers and scholars working on financial regulation and international financial laws.
Table of Contents
1. Problem Definition. 2. Transnational Insolvency: Part 1, Jurisdictions Approach towards Cross-Border Insolvency Part 2. 3. Restructuring: Schemes of Arrangements Part 1, Restructuring: Schemes of Arrangements Part 2. 4. Restructuring: Letters of Comfort. 5. Restructuring: Mergers and Acquisitions Part 1, Restructuring: Mergers and Acquisitions Part 2. 6. Close Out Netting (Arrangements) Part 1, Jurisdictional Comparisons of Netting Arrangements Part 2, Jurisdictional Comparisons of Netting Arrangements Part 3.
