This article provides a brief overview of the current insolvency trends in Asia. The article sets out the three broad groupings that Asian countries are typically classified within with respect to their bankruptcy procedures. The article provides examples of the insolvency laws developed in individual Asian countries within each of the three groupings.
A Q&A guide to restructuring and insolvency law in South Korea. The Q&A gives a high level overview of the most common forms of security granted over immovable and movable property; creditors' and shareholders' ranking on a company's insolvency; mechanisms to secure unpaid debts; mandatory set-off of mutual debts on insolvency; state support for distressed businesses; rescue and insolvency procedures; stakeholders' roles; liability for an insolvent company's debts; setting aside an insolvent company's pre-insolvency transactions; carrying on business during insolvency; additional finance; multinational cases; and proposals for reform. To compare answers across multiple jurisdictions, visit the Restructuring and insolvency Country Q&A tool. This Q&A is part of the multi-jurisdictional guide to restructuring and insolvency law. For a full list of jurisdictional Q&As visit www.practicallaw.com/restructure-mjg.
Search the Country Q&A in the Tax Litigation Global Guide by question and jurisdiction. Step 1: Check the boxes to select the questions and the jurisdictions for comparison. Step 2: Click the "submit" button. Step 3: Scroll down to view answers and check law stated dates for each jurisdiction.