Contemporary Issues in Finance and Insolvency Law Volume 2

Increasing regulatory interdependence between Central, East, and South East Asia, European, and North American financial markets requires cohesive, compatible, and integrated insolvency and restructuring laws. This two-volume work evaluates international regulatory reforms and calls for schemes of arrangements and letters of comfort to be accepted as international legal tools. It also discusses international arbitration, data protection, and artificial intelligence in cross-border insolvency and restructuring, seeking a balance between self-regulation and government regulation.

Format: Hardback
Length: 172 pages
Publication date: 17 August 2022
Publisher: Taylor & Francis Ltd

The growing interconnectedness of Central, East, and South East Asia, European, and North American financial markets is a significant trend in the global financial landscape. These markets collectively account for over one-third of the world's population and play a pivotal role in shaping the world's financial markets. As these Asian markets become increasingly integral to the global financial economy, the need for cohesive, compatible, and integrated insolvency and restructuring laws becomes paramount.

In response to this demand, this two-volume work offers a comprehensive examination of why internationalization of 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 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 the formal acceptance of schemes of arrangements and letters of comfort as international legal tools, which would facilitate cross-border cooperation and resolution of insolvency cases.

The work also assesses recent, but as yet unregulated developments in financial agreements, namely the use of close-out netting provisions. These provisions 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, the work 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 comprehensive and coordinated approach 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 working on financial regulation and international financial laws. It provides a comprehensive analysis of the current state of play and offers practical solutions for addressing the challenges posed by cross-border insolvency and restructuring.

Weight: 510g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032319162