Contemporary Issues in Finance and Insolvency Law Volume 1

The growing regulatory interconnectedness of Central, East, and South East Asian, European, and North American financial markets requires more cohesive, compatible, and integrated insolvency and restructuring laws. This two-volume work examines why internationalizing current cross-border insolvency and restructuring laws is necessary and proposes ways to address inadequacies. It also discusses recent unregulated developments in financial agreements, international arbitration, data protection, and artificial intelligence in cross-border insolvency and restructuring. The book aims for a balance between self-regulation and government regulation.

Format: Paperback / softback
Length: 420 pages
Publication date: 17 August 2022
Publisher: Taylor & Francis Ltd

The growing interconnectedness of Central, East, and South East Asian, European, and North American financial markets is a significant trend in the global financial landscape. These markets collectively represent over one-third of the world's population and play a pivotal role in the global financial economy. As Asian markets continue to gain prominence, the need for more cohesive, compatible, and integrated insolvency and restructuring laws becomes increasingly apparent.

In response to this demand, this two-volume work offers a comprehensive examination of why internationalization of current cross-border insolvency and restructuring laws is necessary and how these laws can be restructured to address inadequacies. The authors argue that the current framework lacks sufficient coordination and cooperation among different jurisdictions, leading to inconsistencies and delays in resolving cross-border insolvency cases.

The first volume of the work focuses on international regulatory reforms aimed at detecting and managing cross-border insolvency and restructuring crises. The authors propose the adoption of schemes of arrangements and letters of comfort as formal international legal tools to facilitate cross-border cooperation and coordination. These instruments would provide a standardized framework for resolving cross-border insolvency disputes and would promote the efficiency and effectiveness of cross-border restructuring processes.

The second volume of the work assesses recent developments in financial agreements, particularly the use of close-out netting provisions as significant protective mechanisms prior to the declaration of an insolvency. The authors discuss the legal implications of these provisions and argue that they should be regulated to ensure fair and transparent treatment of creditors.

The work also explores international arbitration, data protection, and artificial intelligence in cross-border insolvency and restructuring. The authors argue that these technologies can play a crucial role in resolving cross-border disputes and promoting efficient and effective insolvency processes.

Finally, the book seeks to strike a meaningful balance between self-regulation through financial contracts and other party practices and regulation imposed by governments and international financial regulators. The authors argue that a combination of both approaches is necessary to ensure the stability and resilience of the global financial system.

This extensive work will be a valuable resource for legal practitioners, policy makers, and scholars engaged in financial regulation and international financial laws. It provides a comprehensive analysis of the current state of cross-border insolvency and restructuring laws and offers practical solutions for improving coordination and cooperation among different jurisdictions.

Weight: 660g
Dimension: 155 x 234 x 27 (mm)
ISBN-13: 9781032318813