About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

8 Int'l Insolvency Rev. 1 (1999)

handle is hein.journals/intvcy8 and id is 1 raw text is: Editorial The past year has seen many examples of the widespread international conse- quences capable of resulting from economic and monetary crises occurring at national, or regional, level. Such experiences serve to sharpen the urgency of the case for reforming and improving the operation of insolvency law, both in a domestic context and at the level of international agreements for handling cross-border cases. Although the efforts of the European Union to implement its Insolvency Convention have been stalled since May 1996, there are reports of discreet attempts to reactivate that project, despite the seemingly entrenched resistance to its potential impact on the part of certain Member states, notably the United Kingdom. Meanwhile, there are more hopeful indications that the UNCITRAL Model Law on Cross-Border Insolvency may be implemented into the domestic laws of several countries, including the United States, in the near future. Legislative proposals to that effect were included in Bankruptcy Reform Bills that were tabled in the U.S. Congress during 1998. Unfortunately, those Bills proved controversial for other reasons, and failed to pass into law. Further attempts to enact the Model Law may take place during the 106th Congress, which opened in January 1999. The articles published in this Issue of the Review provide a range of fascin- ating insights into the evolving approaches to cross-border insolvency issues in many different parts of the world. Pauline Gan, in her comparative survey of Corporate Rescue Regimes in the Asia Pacific region, examines the latest efforts to combat business failure in Australia, Thailand, Indonesia and Hong Kong. Other aspects of recently-introduced reforms in the insolvency laws of Hong Kong are analysed by Charles Booth and Philip Smart in their joint article, entitled Retroactive or Prospective?, in which they reveal the hidden dangers of over-hasty transplantation of new legislative provisions modelled upon those introduced in another country as part of a more comprehensively designed programme of reforms. The lack of clear and explicit provision regarding the relevant date from which the new provisions are to be applicable can have serious consequences for the debtor and others. Various factors, including that of linguistic accessibility, have resulted in a somewhat uneven state of knowledge within the English-speaking world about the current trends in cross-border insolvency law and practice in the different Member states of the European Union. Italy is a case in point. The paper contributed by Manfredi Burgio on The Italian Approach sheds some useful light upon the subject, although the author concedes that his country's law is in need of further development and modernisation. Areas of uncertainty are also encountered in the statutory provisions in force in the United Kingdom, even Copyright ( 1999 John Wiley & Sons, Ltd. CCC 1180 0518/99/010001 02$17.50 Int. Insole. Rev., Vol. 8:1 2 (1999)

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most