There is increasing regulatory interdependence amongst Central, East and
South East Asia, European and North American financial markets, and
these markets account for over one-third of the world's population and
global financial markets. As these Asian markets become more integral to
global financial economy, more cohesive, compatible and integrated
insolvency and restructuring laws are essential. This two-volume work
reviews why we should internationalise current cross-border insolvency
and how we could restructure laws to address inadequacies.
The two-volume work evaluates international regulatory reforms directed
at detecting and managing cross-border insolvency and restructuring
crises across the entire economy including financial markets. The
authors call for schemes of arrangements and letters of comfort to be
formally accepted as international legal tools. The work also assesses
recent, but as yet unregulated developments in financial agreements,
namely, the use of close-out netting provisions. They are a significant
preventative legal mechanism, protecting debtors, creditors and
employees among others, before a declaration of insolvency. The book
discusses international arbitration, data protection and artificial
intelligence in cross-border insolvency and restructuring. Finally, it
seeks a meaningful balance between self-regulation through financial
contracts and other party practices, and regulation imposed by
governments and international financial regulators.
This extensive work will be a useful reference for legal practitioners,
policy makers and scholars working on financial regulation and
international financial laws.
