find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Asia-Pacific insolvency regimes outlined in new guide

Asia-Pacific insolvency regimes outlined in new guide

John Nestel, Herbert Smith Freehills

Herbert Smith Freehills has created a new guide to help companies and lenders navigate the various insolvency regimes in the Asia-Pacific region.

The Restructuring, Turnaround and Insolvency in Asia Pacific legal guide, which was released last week, provides an overview of the laws on corporate restructuring, turnaround and insolvency in 14 major jurisdictions across the region.

The countries covered in the guide are Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

The guide will assist lenders, alternate capital providers and investors working across a number of different jurisdictions during a time of challenging economic conditions, according to Herbert Smith Freehills global head of finance John Nestel (pictured).

“Corporates operating in the Asia-Pacific region are experiencing lower commodity prices, rising non-performing loans, the slowdown in China's growth, a tightening of credit markets and impending debt maturities,” Mr Nestel said.

“These conditions are leading to a rise in restructurings and insolvencies, and we expect this trend to continue.”

According to Mr Nestel, insolvency regimes will be put to the test and it is vital that lenders and companies understand the various regimes that exist in the markets in which they operate.

“The legal frameworks for restructurings and insolvencies have been continuing to develop across the region, and in a number of countries these laws have been subject to major overhauls,” Mr Nestel said.

“The region has also become more integrated and it is common for restructurings and insolvencies to cross jurisdictional boundaries, requiring a significant amount of expertise and co-ordination.”

Herbert Smith Freehills Hong Kong-based partner Gareth Thomas added that companies operating in Asia need to be particularly aware of the complexity of insolvency and restructuring laws when operating across borders.

“As well as considering the legal frameworks that might apply to their operations, companies need to be sensitive to the differing economic factors at play across Asia,” Mr Thomas said.

“For instance, slower domestic growth, market volatility and over-capacity within some industries are forcing many companies in China to restructure to varying degrees.

“South Korea is another jurisdiction where we are expecting insolvencies to rise due to high debt levels, and in Japan restructuring may increase due to uncertainties surrounding the domestic economy.”


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Asia-Pacific insolvency regimes outlined in new guide
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
microphone
Oct 20 2017
Podcast: One of law’s most infamous alumni – in conversation with Julian Morrow
In this episode of The Lawyers Weekly Show, Melissa Coade is joined by The Chaser’s Julian Morrow....
protest
Oct 20 2017
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
Oct 20 2017
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...