Cross-Border Asset Recovery Strategies for Insolvency Practitioners – Featuring the perspectives from an insolvency practitioner, forensic investigator, lawyer and litigation funder, this session explores the latest techniques for asset recovery and insolvency litigation. Before the current global economic recession, the Thai government showed little interest in introducing or updating legislation to reflect Thailand’s position as a leading foreign investment destination in Southeast Asia and to better facilitate cross-border insolvency proceedings. Malaysia has not adopted the UNICTRAL Model Law on Cross-Border Insolvency 1997. In order to keep pace with this changing dimension, the Insolvency Law Review Committee (“ILRC”) was set up to review Singapore’s insolvency regime. Police personnel check the identification of a driver at the Malaysia-Thailand border at the Padang Besar checkpoint in Kedah January 18, 2016. The consequences will not only be bitter for the corporates but also for the larger fraternity of creditors in India, in case a cross border insolvency framework is not implemented at the earliest. As corporations become increasingly globalized, cross-border insolvencies are more prevalent. Insolvency raises the problems of any cross-border dispute: reciprocity, venue, choice of law, and cultural differences. This article considers the landmark case by the Hong Kong Court of First Instance, in Joint and Several Liquidators of CEFC Shanghai International Group Ltd  HKCFI 167.It is a significant step that the Hong Kong Courts have taken, enhancing cross-border insolvency … I. Covid-19 may create stress on External Commercial Borrowings (ECB) and guarantees issued for overseas borrowings of Indian corporates. The ILRC recommended that Singapore adopt the UNCITRAL Model Law on Cross Border Insolvency (“Model Law”) in an attempt to promote Singapore as an international centre for debt restructuring. (2011) 23 SAcLJ Cross-border Insolvency Issues 413 CROSS-BORDER INSOLVENCY ISSUES AFFECTING SINGAPORE CHAN Sek Keong* Chief Justice of Singapore. Insolvency Regulations were promulgated in 2015 and set out how foreign insolvency proceedings can be recognised in Jamaica. When companies operate on a cross-border basis, it is inevitable that the laws of two or more jurisdictions will apply to their activities. How EU Member States recognise insolvency proceedings of a third-party state; Insolvency judgments and the Foreign Judgments (Reciprocal Enforcement) Act 1933; Key cross-border guidelines for insolvency or restructuring cases Jamaica is signatory to the UNCITRAL Model Law on Cross Border Insolvency which is given effect by regulations made pursuant to section 287 of the Insolvency Act. Crossborder jurisdiction and assistance in insolvency: The position in Malaysia and Singapore. Introduction 1 This is the ninth judicial colloquium but it is the first to be held in an Asian city – the previous colloquia having been held at more Prospects for cross-border insolvency proceedings in Thailand. However, unlike a typical adversarial dispute, successful insolvency proceedings do not have a single "winner," and therefore raise unique problems.
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