Insolvency Law Administration and Culture in Six Asian Legal Systems

Australian Journal of Corporate Law, Vol 6, pp. 248-288, 1996

43 Pages Posted: 12 Aug 2009

See all articles by Roman Tomasic

Roman Tomasic

University of South Australia; Durham University - Law School

Peter C. Little

Queensland University of Technology Faculty of Business

Angus Francis

affiliation not provided to SSRN

Kui Hua Wang

Deakin University, Geelong, Australia - Deakin Law School

Kam Kamarul

affiliation not provided to SSRN

Date Written: August 10, 2009

Abstract

This paper reports on a comparative study of insolvency law administration in six Asian legal systems. This project draws upon empirical methods and seeks to locate different bodies of corporate insolvency law within particular cultural traditions and cultural responses to business debt in six Asian legal systems: China, Hong Kong, Indonesia, Malaysia, Singapore and Taiwan. This project was funded by the Australian Research Council. Face to face interviews were conducted by team members in all six jurisdictions. This paper is part of a larger study (Tomasic and Little, Insolvency Law & Practice in Asia, Hong Kong, FT Law & Tax, 1997) which seeks to contribute to an understanding of the theory and practice of insolvency law in various Asian legal systems. As companies increasingly undertake business activity across the Asian region they need to be sensitive to different approaches to corporate insolvency in different legal systems. The effects of cultural diversity are considered given the differing social contexts in which sometimes similar insolvency law rules operate in the Asian region. The research examines how local legal culture, such as Confucian and Islamic traditions, shape national approaches to corporate insolvency law and practice in transitional and more advanced economies.

Keywords: insolvency law, comparative law, legal culture, East Asia

JEL Classification: K22, N25, M14, K41

Suggested Citation

Tomasic, Roman A. and Little, Peter C. and Francis, Angus and Wang, Kui Hua and Kamarul, Kam, Insolvency Law Administration and Culture in Six Asian Legal Systems (August 10, 2009). Australian Journal of Corporate Law, Vol 6, pp. 248-288, 1996, Available at SSRN: https://ssrn.com/abstract=1446648 or http://dx.doi.org/10.2139/ssrn.1446648

Roman A. Tomasic (Contact Author)

University of South Australia ( email )

GPO Box 2471
ADELAIDE
City West, 5001
Australia

Durham University - Law School ( email )

Palatine Centre
Stockton Road
Durham, Durham
United Kingdom

HOME PAGE: http://www.durham.ac.uk

Peter C. Little

Queensland University of Technology Faculty of Business ( email )

GPO Box 2434
Brisbane, Queensland 4001
Australia

Angus Francis

affiliation not provided to SSRN

No Address Available

Kui Hua Wang

Deakin University, Geelong, Australia - Deakin Law School ( email )

221 Burwood Highway
Burwood
Burwood, Victoria 3125, Victoria 3125
Australia

Kam Kamarul

affiliation not provided to SSRN

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