We are pleased to bring to you the SAL Journal’s special issue on insolvency law. This issue features articles on:
(a) the recent PRC Enterprise Bankruptcy Law and the issues which have developed since its enactment;
(b) insolvent banks and the financial safety sector net, with particular attention to the Northern Rock crisis in the UK;
(c) the current state of play under English choice of law rules in insolvency transaction avoidance;
(d) the duty to maintain equality in collective creditor actions;
(e) corporate rescue law in Singapore and the appropriateness of Chapter 11 of the US Bankruptcy Code as a model;
(f) the process of transition in personal insolvency law in English law and the lessons which may be drawn by other jurisdictions from this pattern of evolution;
(g) how the remedy of discharge by certificate of the Official Assignee was conceived, drafted and successfully implemented in Singapore;
(h) the status of an insolvent company’s encumbered assets under the laws governing property and insolvency;
(i) the key features of the debt repayment scheme and other related debt rehabilitation models in various jurisdictions that help wage-earner debtors with relatively small debts to avoid bankruptcy; and
(j) the duties of good faith and care owed by a mortgagee and a receiver to the mortgagor and suggestions where Singapore should depart from English law.

Contents

Articles

1) The 2006 PRC Enterprise Bankruptcy Law: The Wait is Finally Over

2) Insolvent Banks and the Financial Sector Safety Net - Lessons from the Northern Rock Crisis

3) Conflict of Laws in Insolvency Transaction Avoidance

4) The Duty to Maintain Equality in Collective Creditor Actions

5) Corporate Rescue Law in Singapore and the Appropriateness of Chapter 11 of the US Bankruptcy Code as a Model

6) Personal Insolvency Law and the Challenge of a Dynamic, Enterprise-Driven Economy

7) Balancing Competing Interests in Bankruptcy: Discharge by Certificate of the Official Assignee in Singapore

8) At the Intersection of Property and Insolvency: The Insolvent Company's Encumbered Assets

9) Alternatives to Bankruptcy - The Debt Repayment Scheme ("DRS")

10) Duties of a Mortgagee and a Receiver: Where Singapore Should and Should Not Follow English Law

Author(s)/Editor(s)/Contributor(s):

Prof McCormack is Professor of International Business Law at the University of Leeds School of Law. He was previously Professor of Law at the University of Manchester as well as Professor of Law and Dean of the School of Law at the University of Essex. In addition, he previously taught at the National University of Singapore, the University of Southampton and the Queens University Belfast. He was a Marie Curie Fellow at the Centre for European Law and Politics, University of Bremen.

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