Court Supervised Restructuring Of Large Distressed Companies In Asia

Author : Wai Yee Wan
Publisher : Unknown
Page : 336 pages
File Size : 42,6 Mb
Release : 2022
Category : Bankruptcy
ISBN : 1509952365

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Court-supervised Restructuring of Large Distressed Companies in Asia by Wai Yee Wan Pdf

"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 far higher concentration in shareholdings among listed firms, including holdings by families and the state, and 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 the 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."--

Author : Wai Yee Wan
Publisher : Bloomsbury Publishing
Page : 379 pages
File Size : 46,9 Mb
Release : 2022-07-28
Category : Law
ISBN : 9781509952342

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Court-Supervised Restructuring of Large Distressed Companies in Asia by Wai Yee Wan Pdf

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.

Author : Joanne F Sonin
Publisher : Bloomsbury Publishing
Page : 329 pages
File Size : 42,8 Mb
Release : 2023-09-07
Category : Law
ISBN : 9781509966813

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Shareholders and Stakeholders by Joanne F Sonin Pdf

This book explores the evolution of the shareholder in post-war Britain within the context of changing legal, political, economic, and social conditions. It examines how the post-war transformation of the shareholder body influenced relationships amongst stakeholders, impacting corporate behaviour and the legal and political efforts to govern industry and financial markets. The book addresses a number of themes, including: 1) how the movements for democratisation influenced the treatment of shareholder interests and the calls for stakeholder representation; 2) how the rhetoric of change created a narrative that deflected from the lack of systemic legal reforms and protected the status quo; 3) how, in the post-war consensus environment, political positions on equity ownership de-radicalised, which proved unsustainable against a background of increasing political polarisation and industrial unrest; and 4) how the institutionalisation of the post-war shareholder body had profound effects on industry, the financial markets, and the economy. With these themes as a foundation, the evolutionary arch of the post-war shareholder is examined, focusing on developments that influenced the treatment and perception of shareholder and stakeholder interests, including nationalisations, shareholder democracy, corporate purpose, and industrial democracy. The book further considers how these post-war changes contribute to the post-1979 legal treatment of shareholder and stakeholder interests, including subsequent changes to the Companies Act and the development of corporate governance codes. Parallels to contemporary movements for stakeholder capitalism, corporate purpose, and ESG are drawn. The historical analysis of the post-war shareholder provides a framework for considering current questions on shareholder primacy and the demands for systemic legal reforms. These missed opportunities for meaningful changes to the treatment of shareholder interests in UK company law serve as useful precedents for evaluating subsequent periods.

Author : Iris H-Y Chiu,Hans-Christoph Hirt
Publisher : Bloomsbury Publishing
Page : 491 pages
File Size : 40,6 Mb
Release : 2023-02-09
Category : Law
ISBN : 9781509953776

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Investment Management, Stewardship and Sustainability by Iris H-Y Chiu,Hans-Christoph Hirt Pdf

This book brings together thought leadership from academia and leading figures in asset management in key global jurisdictions, to pool together insights regarding the transformative visions and challenges for modern investment management, as well as best practices that realise the policy objectives in regulation and soft law. The world of investment management is being challenged by new legal, regulatory and soft law developments to demonstrate that their practices cohere with the long-term needs of the saving population as well as public interest needs in financing global sustainability and social development. The chapters in this book uniquely bring together the views of academia and practice on the key developments that can transform the law and practice of investment management, including the EU's new sustainable finance reform package, the UK Stewardship Code 2020, and developments in the US regarding the fit between fiduciary law for investment management and modern sustainability concerns. The book brings together the best of both worlds–critical thoughtful perspectives from academia and qualitative insight from the investment management industry. It will be of interest to researchers in law, investment management, business and management, practitioners in the investment management industry and their legal advisers, and policy-makers in the EU, UK and beyond who are grappling with the appropriate governance paradigms for bringing about more sustainable outcomes globally.

Author : Tim Bowley
Publisher : Bloomsbury Publishing
Page : 243 pages
File Size : 54,7 Mb
Release : 2023-01-12
Category : Business & Economics
ISBN : 9781509952243

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Activist Shareholders in Corporate Governance by Tim Bowley Pdf

This book explores the regulatory challenges of public company shareholder activism. Around the world, policy makers, practitioners and academics debate how best to regulate shareholder activism. Using Australia as a case study, the book examines key issues raised by this debate. With a market structure and legal settings that are conducive to activism, Australia makes an ideal case study and provides a fresh comparative perspective on the regulatory debate about shareholder activism, which tends to be dominated by US-focused analysis and commentary. The book presents empirical evidence which reveals that Australian activism is a significant and multifaceted phenomenon, undertaken by different types of activists pursuing varying strategies and supported by a range of complementary market developments. The book uses this evidence to develop comparative insights and explore internationally topical issues, including: - activists' willingness to use interventionist governance rights; - the role of intermediaries such as proxy advisers in facilitating activism; - institutional investor stewardship; and - the risks of collective shareholder activism. This book provides an important comparative perspective on the topic of shareholder activism. It is an essential resource for policy makers, practitioners and academics interested in the regulatory implications of shareholder activism.

Author : Eleanore Hickman
Publisher : Bloomsbury Publishing
Page : 249 pages
File Size : 52,8 Mb
Release : 2023-05-18
Category : Law
ISBN : 9781509946570

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Diversity, Merit and Power in the C-Suite by Eleanore Hickman Pdf

This book explores the correlations of diversity and power in UK boardrooms and the difficulties inherent in truly merit-based appointments. From a distance, boardroom diversity is seen as a UK success story of recent years. A closer look at boardrooms reveals a more uncomfortable truth: boards can be split into tracks of power and diversity. Where there is a concentration in power, genuine diversity is much less prevalent. Using the FTSE 100, the book examines the appointment and retention of the most powerful positions in some of the world's most powerful corporations. Diversity, merit and power are each defined and measured individually, then considered cumulatively, to provide fresh insights into the meaning of corporate power, who wields it and how it is obtained. This analysis is considered alongside the diversity narratives created by the FTSE 100 to frame their position on diversity. From this, the value of corporate 'diversity speak' is challenged, together with the regulatory requirements that result in its production. Those studying or practising corporate law or management and anyone with an interest in corporate power will find this in-depth assessment thought-provoking and informative. From the book's original vantage point, suggestions are made as to how and why we might seek a more balanced distribution of power in the boardroom.

Author : Michael Pomerleano,William Shaw
Publisher : World Bank Publications
Page : 436 pages
File Size : 46,9 Mb
Release : 2005
Category : Business & Economics
ISBN : 9780821359280

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Corporate Restructuring by Michael Pomerleano,William Shaw Pdf

In light of the periodic financial crises of the late 1990s, there has been a growing recognition of the need for a strategy to avoid and mitigate the severity of crises in the corporate sector, requiring the complementary efforts of policymakers, regulators, lawyers, insolvency experts and financiers. This publication examines the issue of corporate restructuring, drawing on case studies of corporate crises in Indonesia, Korea, Malaysia and Thailand among others; and discusses a range of topics including the key role of governments in securing an enabling legal system, effective out-of-court workouts, supportive tax regimes, policy and regulatory initiatives to address systemic corporate problems.

Author : Peter Drysdale
Publisher : Routledge
Page : 381 pages
File Size : 52,8 Mb
Release : 2003-09-02
Category : Business & Economics
ISBN : 9781134550036

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Reform and Recovery in East Asia by Peter Drysdale Pdf

This exciting sequel to East Asia in Crisis offers a completely up-to-date assessment of the progress of East Asian recovery and provides a detailed review of the experience of the region's economies.

Author : Charles Adams,Robert E. Litan,Michael Pomerleano
Publisher : Rowman & Littlefield
Page : 516 pages
File Size : 45,8 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 0815717296

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Managing Financial and Corporate Distress by Charles Adams,Robert E. Litan,Michael Pomerleano Pdf

A World Bank, International Monetary Fund, and Brookings Institution publication More than three years have elapsed since the East Asian financial crisis erupted, threatening economic and financial stability in the region and beyond. Although many of the region's economies have since staged a remarkable turnaround, much additional restructuring and reform is needed. Managing Financial and Corporate Distress: Lessons from Asia, stands out from other works on the East Asian crisis by moving beyond macroeconomic assessments to offer an institutional treatment of the microeconomic aspects of the corporate and bank restructuring. Contributors draw on their practical, hands-on expertise in various aspects of finance to provide complementary perspectives on how best to set in place strong and responsive institutions that might be able to resolve and avoid future crises in other emerging markets.

Author : Stijn Claessens,Simeon Djankov,Ashoka Mody
Publisher : World Bank Publications
Page : 428 pages
File Size : 50,8 Mb
Release : 2001-01-01
Category : Law
ISBN : 0821349066

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Resolution of Financial Distress by Stijn Claessens,Simeon Djankov,Ashoka Mody Pdf

The understanding of the economic and legal structure of the institutions of bankruptcy has increased considerably over the past decade. This publication describes the state of current knowledge. Containing both theoretical studies and evidence from recent case studies, it shows the possibilities and methods of legal reform and the pitfalls of misguided political action.

Author : Mr.David T. Coe,Mr.Se-Jik Kim
Publisher : International Monetary Fund
Page : 548 pages
File Size : 41,6 Mb
Release : 2002-09-19
Category : Business & Economics
ISBN : 1589060687

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Korean Crisis and Recovery by Mr.David T. Coe,Mr.Se-Jik Kim Pdf

Edited by David T. Coe and Se-Jik Kim, this volume contains papers presented at a May 2001 conference in Seoul sponsored by the IMF and the Korea Institute for International Economic Policy on the Korean Crisis and Recovery. The papers examine the response to the 1997 crisis, its long-term impact on growth, and the state of financial and corporate sector reforms. Authors include academics, Korean policymakers, and IMF and World Bank staff involved in the Korean program.

Author : Carl-Johan Lindgren,Charles Enoch,Leslie Teo
Publisher : Unknown
Page : 103 pages
File Size : 43,5 Mb
Release : 1999
Category : Business & Economics
ISBN : 1557758719

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Financial Sector Crisis and Restructuring by Carl-Johan Lindgren,Charles Enoch,Leslie Teo Pdf

An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.

Author : Anonim
Publisher : Unknown
Page : 296 pages
File Size : 46,7 Mb
Release : 2001
Category : Asia
ISBN : UCSD:31822032728925

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The Asia Pacific Journal of Economics & Business by Anonim Pdf

Author : Roman Tomasic
Publisher : Routledge
Page : 608 pages
File Size : 41,8 Mb
Release : 2017-07-05
Category : Law
ISBN : 9781351571531

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Commercial Law in East Asia by Roman Tomasic Pdf

The shift of economic gravity towards East Asia requires a critical examination of law's role in the Asian Century. This volume explores the diverse scholarly perspectives on law's role in the economic rise of East Asia and moves from general debates, such as whether law enjoys primacy over culture, state intervention or free markets in East Asian capitalism, to specific case studies looking at the nature of law in East Asian negotiations, contracts, trade policy and corporate governance. The collection of articles exposes the clefts and cleavages in the scholarly literature explaining law's form, function and future in the Asian Century.

Author : Stuart C. Gilson
Publisher : John Wiley & Sons
Page : 852 pages
File Size : 51,6 Mb
Release : 2010-04-05
Category : Business & Economics
ISBN : 9780470503522

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Creating Value Through Corporate Restructuring by Stuart C. Gilson Pdf

An updated look at how corporate restructuring really works Stuart Gilson is one of the leading corporate restructuring experts in the United States, teaching thousands of students and consulting with numerous companies. Now, in the second edition of this bestselling book, Gilson returns to present new insight into corporate restructuring. Through real-world case studies that involve some of the most prominent restructurings of the last ten years, and highlighting the increased role of hedge funds in distressed investing, you'll develop a better sense of the restructuring process and how it can truly create value. In addition to "classic" buyout and structuring case studies, this second edition includes coverage of Delphi, General Motors, the Finova Group and Warren Buffett, Kmart and Sears, Adelphia Communications, Seagate Technology, Dupont-Conoco, and even the Eurotunnel debt restructuring. Covers corporate bankruptcy reorganization, debt workouts, "vulture" investing, equity spin-offs, asset divestitures, and much more Addresses the effect of employee layoffs and corporate downsizing Examines how companies allocate value and when a corporation should "pull the trigger" From hedge funds to financial fraud to subprime busts, this second edition offers a rare look at some of the most innovative and controversial restructurings ever.