Economic growth in Asia and the Pacific currently represents almost two-thirds of all global growth and this is forecasted to continue. Although external demand is sluggish, domestic demand in the region continues unabated. Growth and upheaval invariably creates demand for more efficient and innovative business and legal frameworks. Perhaps nowhere else is this more apparent than in the insolvency and restructuring context.
Insolvency and restructuring legal frameworks are experiencing reform across the globe, partly in response to economic, financial and political upheaval. Asia has seen a sweep of reforms aimed at encouraging restructuring of financially distressed companies, reflecting the global trend in acknowledging the broader economic and social benefit of preserving viable companies. Legal frameworks, policy agendas and accompanying reforms for each individual country varies within the region, depending on the maturity of the country's economic development and access to financial services.
Henry Davis York is responding to this change, being at the coalface of reform and thought leadership in Asia and the Pacific, particularly in the Republic of the Union of Myanmar where we have been engaged to draft the fledgling economy's new Insolvency Act.
HDY's Restructuring & Insolvency in Asia Hub provides you with a summary of useful news, case studies and resources.