Charles D. Booth

Hong Kong v Singapore: The Battle to Become Asia’s Regional Hub for Commercial Dispute Resolution and Restructuring

For many years, Hong Kong has viewed itself as the best place in Asia for resolving commercial disputes and restructuring companies. However, the Hong Kong government has been slow to update its outdated legal framework and getting necessary reforms through the Hong Kong Legislative Council is proving increasingly difficult. Meanwhile, the Singapore government is keenly focused on making Singapore the regional hub for commercial dispute resolution and restructuring. In 2015, Singapore launched the Singapore International Commercial Court and appointed a Committee to Strengthen Singapore as an International Centre for Debt Restructuring.

Responding to the ’97 Asian Financial Crisis:The Development of Insolvency Infrastructures in China, Japan and Hong Kong

In the aftermath of the ’97 Asian financial crisis, attention turned to insolvency law reform throughout the region. Other responses included self-help by creditors, the use of out-of-court workouts and administrative reforms. The extent to which these responses proved successful depended in great part on existence of supporting factors and conditions (e.g., competent judges and professionals and good corporate governance) and the ability of countries to establish the necessary insolvency infrastructures.