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International And Domestic Law Aspects Of Cross-Border Insolvency In Order To Establishing Cross-Border Insolvency Regulation In Asean: Indonesian Perspective, Moch Najib Imanullah, Emmy Latifah, Pramesthi Dinar Kirana Ratri

Indonesia Law Review

The increases in cross-border trade has resulted in more companies with assets, business, and presence in multiple jurisdiction. When any of these companies face debt restructuring or insolvency, it confronts a myriad of complex issues in coordinating rescue proposals or winding up the businesses across jurisdictions. Prior to the 1997 economic crisis, insolvency laws in most state economies were generally out of date and irrelevant to the modern commercial needs, particulary the cross-border insolvency matters that has not been well regulated. ASEAN has initiated an integrated economy regional by launching an ASEAN Economic Community on late 2015. It aimed to …