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

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.