Jurisdiction - Japan
Reports and Analysis
Asia Pacific – 2012 Conventus Law Asia Pacific Guide to Insolvency & Restructuring.

May, 2012

 

Conventus Law Asia Pacific Guide to Insolvency & Restructuring.



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Country Chapters:

 

Australia

 

Distressed Investing 2012.

 

 

 

The secondary debt market in Australia has really come along in leaps and bounds in 2011. We estimate that distressed, impaired ornon core loan sales for 2011 have exceeded $11B in face value. read more

 

 

China

 

 

Bankruptcy Legal Regime.

  

 

The Enterprise Bankruptcy Law of the People’s Republic of China (the “Bankruptcy Law”) was promulgated on August 27, 2006 and took effect from June 1, 2007. The promulgation of the Bankruptcy Law is a significant milestone for the development of bankruptcy legal regime of the People’s Republic of China (“PRC”). read more

 

 

Hong Kong

 

 

 
 
As with certain other common law jurisdictions, Hong Kong law has no definition of “insolvency”. Rather, Hong Kong law uses the expression, in relation to a company, of “unable to pay its debts”. There are three broad ways under Hong Kong law in which to establish that a company is “unable to pay its debts”: read more

 

 

Japan

 

 

Insolvency & Restructuring Guide 2012.

 

 

After the late 1990s when Japan was in a serious economic depression, series of statutory insolvency procedures were enacted or changed including, but not limited to, the Civil Rehabilitation Law in 1999 to replace previous Composition Law, the Act on Recognition of and Assistance for Foreign Insolvency Proceedings which adopted UNCITRAL Model law in 2000, the new Corporate Reorganization Law in 2002, the new Bankruptcy Law in 2004. In addition to those changes of statutory insolvency proceedings, a new guideline and tools that facilitate out-of-court workouts were set up such as the Guideline for Out-of-Court Workout in 2001, Small and Medium-sized Enterprises Turnaround Associations in 2003, the Enterprise Turnaround Initiative Corporation of Japan in 2009, etc. Because there are so many tools for restructuring a company with financial difficulties and there is no boilerplate rule with regard to which law or tool should be used, it is important for the ailing company to retain skilled practitioners to handle the case. read more

 

 

New Zealand

 

 

Insolvency & Restructuring Guide 2012.

 

 

Receiverships, liquidation and voluntary administration are the most commonly used formal corporate insolvency procedures in New Zealand. read more

 

 

Singapore

 

 

A Comparison Between Scheme Of Arrangement And Judicial Management.

 
 
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