Wildy Logo
(020) 7242 5778
enquiries@wildy.com

Book of the Month

Cover of Company Directors: Duties, Liabilities and Remedies

Company Directors: Duties, Liabilities and Remedies

Edited by: Mark Arnold KC, Simon Mortimore KC
Price: £275.00

Lord Denning: Life, Law and Legacy



  


Welcome to Wildys

Watch


NEW EDITION Pre-order Mortgage Receivership: Law and Practice



 Stephanie Tozer, Cecily Crampin, Tricia Hemans
Practical guidance to relevant law & procedure


Offers for Newly Called Barristers & Students

Special Discounts for Newly Called & Students

Read More ...


Secondhand & Out of Print

Browse Secondhand Online

Read More...


Easter Closing

We will be closed between Friday 29th March and Monday 1st April for the Easter Bank Holidays, reopening at 8.30am on Tuesday 2nd April. Any orders received during this period will be processed with when we re-open.

Hide this message

Court-Supervised Restructuring of Large Distressed Companies in Asia: Law and Policy


ISBN13: 9781509952373
Published: January 2024
Publisher: Hart Publishing
Country of Publication: UK
Format: Paperback (Hardback 2022)
Price: £44.99
Hardback edition , ISBN13 9781509952335



Despatched in 7 to 9 days.

This book provides an in-depth analysis of 4 economically significant Asian jurisdictions: Mainland China, India, Hong Kong and Singapore. These jurisdictions have recently either reformed – or are considering reforming – their corporate restructuring laws to promote regimes conducive to restructuring financially distressed, but otherwise economically viable, companies.

Mainland China, India, Hong Kong and Singapore continue to adhere to a framework that requires the court's final approval but draw references from Chapter 11 of the Bankruptcy Code 1978 in the United States and/or the schemes of arrangement in the United Kingdom. However, the institutional and market structures are very different in Asia; in particular, Asia has a far higher concentration in shareholdings among listed firms, including holdings by families and the state, and a different composition of creditors.

The book explains how, notwithstanding the legal transplantation, corporate restructuring laws in these Asian jurisdictions have adapted and evolved due to the frictions in shareholder-creditor and creditor-creditor relationships, and the role of the state in resolving non-performing loans and financial distress of state-owned enterprises which are listed, or which issue public debt.

The study argues that any reforms must go beyond professionalising the insolvency professionals and the judiciary but must be designed to address fundamental issues of corporate governance, bank regulation and enforcing non-bankruptcy rules. It offers invaluable insights for academics and policy makers alike.

Subjects:
Insolvency Law, Other Jurisdictions , Asia
Contents:
1. Introduction and Theoretical Framework
1.1. Overview
1.2. Restructuring Models in Anglo-America and Asia
1.3. Understanding the Interaction between Corporate Governance and Restructuring Law
1.4. Building an Analytical Framework
1.5. Methodology
1.6. Organisation of the Book

2. Development of Corporate Restructuring Law in Four Asian Jurisdictions
2.1. Introduction
2.2. Emerging Jurisdictions
2.3. Advanced Jurisdictions
2.4. Conclusion

3. The Agency Costs of Manager–Creditor and Shareholder–Creditor Relationships in Restructuring
3.1. Introduction
3.2. Institutional and Organisational Background
3.4. Addressing Information Asymmetry and Hold-Out Problems in Asian Restructurings
3.5. Enhancing the Restructuring Regime: Lessons and Implications
3.6. Conclusion

4. The Agency and Coordination Costs of Creditor–Creditor Relationships in Restructuring
4.1. Introduction
4.2. Institutional and Organisational Background
4.3. Strategies to Deal with Agency and Coordination Costs of Creditor–Creditor Conflicts in Anglo-American Restructurings
4.4. The Features of Asian Restructurings
4.5. Enhancing the Restructuring Regime in Asia: Lessons and Implications
4.6. Conclusion

5. Managing Non-Performing Loans and their Impact on Agency and Coordination Costs in Two Emerging Jurisdictions
5.1. Introduction
5.2. Institutional and Organisational Background in the International Context for Resolving NPLs
5.3. Institutional Background to NPLs in India and Mainland China
5.4. AMCs and Variations to Agency and Coordination Costs in Restructuring
5.5. Developing Active Distressed Loan Markets in India and Mainland China
5.6. Conclusion, Lessons and Implications for Managing NPLs
5.7. Postscript

6. Insolvency Practitioners as Gatekeeper Intermediaries
6.1. Introduction
6.2. Role of Insolvency Practitioners: A Comparative Perspective
6.3. The Governance of Intermediaries: Accountability, Conflicts of Interest and Effectiveness
6.4. Lessons, Implications and Options for Reform in Asian Jurisdictions
6.5. Conclusion

7. Role of the Courts in Court-Supervised Restructurings
7.1. Introduction
7.2. Legislative Framework and Judicial Discretion in the US and the UK: Strengths and Limitations
7.3. Legislative Framework and Judicial Discretion in Asia
7.4. Lessons and Implications
7.5. The Experience of Mainland China
7.6. Conclusion

8. Relationship between Restructuring Law, Enforcing Contracts and Directors' Duties
8.1. Introduction
8.2. Impact of Enforcing Creditor Rights on Restructuring Law
8.3. Analysis
8.4. Directors' Duties and Incentives to Invoke or Use Restructuring Law
8.5. Conclusion

9. Restructuring Law, Implications for Reform and Conclusion
9.1. Introduction
9.2. Seven Propositions in this Book
9.3. Future Prospects for Reform in the Asian Jurisdictions
9.4. Conclusion

Series: Contemporary Studies in Corporate Law

Corporate Rescue: Law and Practice ISBN 9781841134611
To be published February 2028
Hart Publishing
£70.00
Diversity, Merit and Power in the C-Suite ISBN 9781509946600
To be published November 2024
Hart Publishing
£42.99
Diversity, Merit and Power in the C-Suite (eBook) ISBN 9781509946570
Published May 2023
Hart Publishing
£76.50
(ePub)
Buy
Diversity, Merit and Power in the C-Suite ISBN 9781509946563
Published May 2023
Hart Publishing
£85.00
Corporate Opportunities: A Law and Economics Analysis ISBN 9781509953226
Published March 2023
Hart Publishing
£42.99
Reconceptualising Corporate Compliance: Responsibility, Freedom and the Law ISBN 9781509946662
Published October 2022
Hart Publishing
£43.99
£100.00
£40.49
(ePub)
Buy
The Making of the Modern Company ISBN 9781509923625
Published June 2022
Hart Publishing
£90.00
The Making of the Modern Company (eBook) ISBN 9781509923649
Published June 2022
Hart Publishing
£38.69
(ePub)
Buy
Corporate Opportunities: A Law and Economics Analysis ISBN 9781509917457
Published September 2021
Hart Publishing
£90.00
Corporate Opportunities: A Law and Economics Analysis (eBook) ISBN 9781509917471
Published September 2021
Hart Publishing
£38.69
(ePub)
Buy
Reconceptualising Corporate Compliance: Responsibility, Freedom and the Law ISBN 9781509918744
Published February 2021
Hart Publishing
£95.00
£39.59
(ePub)
Buy
Corporate Governance in the Shadow of the State (eBook) ISBN 9781782250876
Published March 2013
Hart Publishing
£85.50
(ePub)
Buy
Corporate Governance in the Shadow of the State ISBN 9781849460088
Published March 2013
Hart Publishing
£95.00
The Foundations and Anatomy of Stakeholder Activism ISBN 9781841136585
Published October 2010
Hart Publishing
£90.00
Law and Economics of Takeovers: An Acquirer's Perspective ISBN 9781841136646
Published May 2008
Hart Publishing
£95.00
Contracting with Companies ISBN 9781841131542
Published May 2005
Hart Publishing
£95.00
Working Within Two Kinds of Capitalism: Corporate Governance and Employee Stakeholding - US and EC Perspectives
Irene Lynch-FannonDean, Faculty of Law and Head, Department of Law, University College Cork, Ireland
ISBN 9781841132860
Published February 2003
Hart Publishing
£90.00