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Insolvency laws are different in every country and a lot of Asian businesses use offshore structures. Over the last decade, there have been moves to address growing complexity with a number of Asian countries updating their insolvency laws.
" Singapore has seen opportunity to steal the thunder of UK and US jurisdictions."
Maria O'Brien, Head of Australian Restructuring & Insolvency, Baker McKenzieAgainst the backdrop of INSOL 2017, we discuss the issues and challenges of insolvency and restructuring in the region with FTI Consulting's head of Corporate Finance & Restructuring in Asia, John Batchelor; Baker McKenzie's head of Australian Restructuring & Insolvency, Maria O'Brien; and Senior Legal Counsel for ANZ, Miles Grant.
India and Singapore in particular are positioning themselves as jurisdictions of choice. The panel sees ambitious attempts to create new insolvency regimes taking the best of existing systems and making efforts to modernise laws.
They have different motivations: India is seeking to promote itself as a destination for foreign capital, Singapore is aiming to become an insolvency hub.
Singapore has seen an opportunity to steal the thunder of UK and US jurisdictions in terms of being a jurisdiction of choice to undertake insolvency.
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The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.
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