Legislative & Regulatory Group
The strategic objective of the Legislative and Regulatory Group is to provide a unique forum for those responsible for drafting, enacting and enforcing the laws and rules governing their country’s insolvency and restructuring processes.
The inaugural meeting took place in 2018 alongside INSOL’s New York Conference, with a second meeting taking place in Singapore in 2019, kindly hosted by Ministry of Law. We are delighted that the World Bank Group has partnered with INSOL International on this important initiative.
A unique feature of this forum, which distinguishes it from other intergovernmental networks and associations, is that the Legislative and Regulatory Colloquium also enables its members to hear and learn from not only their peers in other nations, but from practitioners, academics and the judiciary from around the globe.
Virtual Live Forums
INSOL International and World Bank Group are pleased to present a series of Live Forum broadcasts, providing a platform for legislators and regulators to discuss current issues whilst facilitating global networking and knowledge sharing. The forum will be one hour in length with 30 minutes of expert views followed by open discussion of the issues. Details of our live forums follow:
COVID Emergency Relief Measures – A Convergence?Tuesday 24 November, 11.00 am – 12.30 pm GMT
Moderator: Boon Heng TAN, Insolvency & Public Trustee’s Office of Singapore
Angela Crossley, The Insolvency Service, UK
Thea Eszenyi, Australian Securities & Investments Commission
Susana Hidvegi, Superintendencia de Sociedades, Colombia
Allen LYE, Insolvency & Public Trustee’s Office of Singapore
Beverly WEE, Insolvency & Public Trustee’s Office of Singapore
This round table will provide snapshots of the various emergency insolvency relief measures that have been implemented (or are being implemented) in Australia, Colombia, Singapore and UK to help individuals and business entities facing financial distress due to the Covid-19 fallout. The panellists will share how these new relief measures are working in practice as well as how the insolvency systems in their respective jurisdictions are holding up under the increased pressure resulting from the Covid-19 pandemic. Participants may be able to glean from the four jurisdictions the common relief features adopted (not surprisingly), and could therefore find the round table relevant and helpful to your respective jurisdictions too.
You may find the following reports helpful as background to the discussions:
Part 3 of the Covid-19 (Temporary Measures) Act relating to insolvency relief measures (especially clauses 20 to 23)
Insolvency Restructuring and Dissolution (Amendment) Bill
Simplified restructuring programme for micro and small companies
Sole Proprietors and Partnerships (SPP) Scheme launched to help businesses in financial distress
Simplified winding up programme for micro and small companies
Corporate Insolvency and Governance Bill 2020: factsheets
Corporate Insolvency and Governance Act 2020
Wednesday 1 July - Evolving Issues for Small and Medium Sized Enterprises
The Legislative & Regulatory forum will allow insolvency regulators and legislators to work together with practitioners, judiciary, academics and others working professionally within the insolvency environment to:
- consider and discuss how national substantive insolvency laws and rules can be improved to facilitate cross-border cooperation;
- develop frameworks for pre-insolvency proceedings, including discussing and sharing best practices for restructuring and rehabilitating debtors, where possible;
- recognise areas of common ground in furtherance of comity, and advancing the recognition of foreign insolvency proceedings;
- identify opportunities for the harmonisation of insolvency laws and the resolution of conflicts of law;
- facilitate educational training and capacity building;
- provide an opportunity to consider current and future challenges and opportunities including the use of technology and data, improvements in effectiveness and/or efficiency, and regulation of the profession; and
- to provide a platform to share understanding and best practice with practitioners to create a better awareness of each other’s purposes and objectives.
Global in its reach and diverse in its composition, INSOL International is exceptional amongst international professional organisations. INSOL recognises that its vision to promote and support the design and development of world leading restructuring and insolvency systems can only be achieved with input, commitment, thought leadership and engagement from all constituents in the insolvency and restructuring community, including practitioners, national professional associations, academics, the judiciary, and legislators and regulators working in the area of bankruptcy, insolvency and restructuring.