Recent Developments In Selected Asian Countries Bankruptcy Laws: Should Multinational Company Strategists Be Concerned?

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Jane LeMaster
Clara Downey
F.J. Brewerton

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Abstract

This paper explains why multinational companies should be concerned about adjudication of international insolvencies. The Territorialism and Universalism Models of bankruptcy law are reviewed and employed as a backdrop to describe recent developments in the insolvency laws of four Asian nations. We conclude with an assessment of the status of the selected Asian nations insolvency laws, progress toward a uniform global system for resolving multinational insolvencies, and the strategic implications these developments hold for strategy formulation.

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