In the past year, the global corporate default rate reached its highest level since the 2008 financial crisis, and continues to climb. In response, both Singapore and the European Union are exploring new approaches to debt restructuring inspired by Chapter 11 of the United States Bankruptcy Code, which has successfully revived corporations like Chrysler and American Airlines.
In particular, the Singapore government, which has been working to position itself as a preferred venue for cross-border restructuring, recently passed the Companies (Amendment) Bill. This legislation, which aims to modernize corporate reorganization procedures and facilitate access to such procedures by foreign companies, is the first step in a series of anticip…
Read the full article at: http://www.thejakartapost.com/academia/2017/05/22/keeping-pace-with-global-trends-in-debt-restructuring-indonesia-must-act.html