Forum on Asian Insolvency Reform (FAIR)

Forum on Asian Insolvency Reform (FAIR)

Virtual FAIR - Preparing for the recovery

INSOL International and the World Bank Group were delighted to announce that the next Forum on Asian Insolvency Reform (FAIR) would take place virtually on Monday 13 and Tuesday 14 September 2021. The programme was held over two half day sessions. 

The following topics were covered: 

  1. Peer to Peer reports covering:
  • Insolvency reforms of law and practice.
  • Sectors particularly affected and support for businesses with cash flow problems.
  • Measures to ensure the stability of the banking sector and the supply of credit.

2. Effects of COVID-19 on MSME sectors; reforms effected and proposed; suggestions for relief outside insolvency procedures

3. Corporate vulnerability and the importance of modern insolvency systems on the exit from a recession 

4. Modifications to Insolvency Procedures:

  • Access to justice – which modifications to court procedures should we keep? 
  • Assisting MSMEs through insolvency in a timely manner 
  • Promotion of cross-border cooperation in the region; including development of UNCITRAL Model Law on Cross-Border Insolvency

The objective of FAIR is to:

  • Provide a platform for a high level dialogue between ministry officials and others involved in the development of insolvency, creditor rights and restructuring law and practice, including representatives of the World Bank Group and regional development organisations focusing on insolvency reform in the Asia Pacific region.
  • Set up a forum for a coordinated approach by international bodies, countries and experts by sharing experience and knowledge.
  • Elevate insolvency and restructuring reform on the Asian policy agenda.

Virtual Fair Papers

Insolvency Law Update - Harris, Symes

UNCITRAL Legislative Guide Part 4 - Obligations of directors of enterprise group entities

UNCITRAL Model Law on Enterprise Group Insolvency

UNCITRAL Model Law on Recognition and Enforcement of Insolvency Related Judgements

Attendance at FAIR is by invitation only. Places are limited to facilitate meaningful discussion between policy makers, judges, regulators, practitioners and lenders on insolvency reform across Asia. For further information pleaes contact Susannah Thomson.