Lessons from recent reforms and proposed reforms to corporate insolvency laws in Singapore, UK and EU [Oct. 24]2018/10/21
Speaker: Wee Meng Seng, Associate Professor of National University of Singapore (NUS)
Chair: Wu Shimin, PhD Student of Renmin Law School
Xu Yangguang, Professor of Law Faculty of RenminUniversity of China
Wang Feimin, Professor of School of Humanities and Law Faculty of North China University of Technology
Liu Jing, Associate Professor of Law Faculty of Beijing Foreign Studies University
Lu Man, President of the Fourth Court of BeijingChaoyang People's Court
Zou Yuling, President of Finance and Liquidation Court of Beijing Haidian People’s Court
Time: October 24, 2018, 18:30 –21:00
Venue: Conference Room 602, Mingde LawBuilding
Language: Chinese and English
Organizer: Research Centre of Bankruptcy Lawof Renmin University of China & Beijing Bankruptcy Law Society
Wee Meng Seng is an Associate Professor and the Deputy Chairman and Director (Corporate Law) of the EW Barker Centre for Law & Business at the Faculty of Law, National University of Singapore (NUS), and an editorial member of the Singapore Journal of Legal Studies. He obtained his LLB from NUS, BCL (First Class) and DPhil from Oxford. He teaches and researches on corporate insolvency law and company law. He has published articles in leading journals in the UK and Singapore such as the Law Quarterly Review, Lloyd’sMaritime and Commercial Law Quarterly, Journal of Business Law and Singapore Journal of Legal Studies, and chapters in OUP and CUP books. His writings have been cited by academics, the Singapore Court of Appeal and the Australian Federal Court. He has been invited regularly to speak at conferences, and has delivered public lectures and given seminars at various universities, including Oxford University, Tsinghua University, Shanghai Jiaotong University and Xian Jiaotong University. He was a member of the Insolvency Law Review Committee appointed by the Singapore government to make recommendations to reform Singapore’s personal and corporate insolvency laws, and has served as consultant to government bodies, local and foreign law firms.
Over the last few years Singapore, UK and EU have all decided to adopt certain modified elements of the US Chapter 11 into their insolvency laws. The purpose of this talk is to explain those developments and discuss the lessons that may be drawn. Over the last few decades many jurisdictions in the world have reformed their insolvency laws. But the developments in Singapore, UK and EU are deserving of special attention in that they have decided to inject elements from a very different legal system into their well-established laws, and in the case of Singapore and UK, to do so even though the scheme of arrangement has become a very successful and popular tool of debt restructuring. Indeed, jurisdictions in the EU such as Spain and Germany have imported the scheme of arrangement into their laws. What were the reasons for Singapore, UK and EU to take such a radical step to reform their insolvency laws? This talk provides a high-level overview of the insolvency laws of Singapore, UK and Chapter 11, followed by an analysis of the 2017 Singapore reforms and he proposed reforms in the UK and EU, and concludes by suggesting some lessons from those developments.
(Editor: ZHANG Wenke)