Contemporary Issues in Finance and Insolvency Law Volume 2

There is increasing regulatory interdependence amongst Central, East and South East Asia, European and North American financial markets, and these markets account for over one-third of the world’s population and global financial markets. As these Asian markets become more integral to global financial economy, more cohesive, compatible and integrated insolvency and restructuring laws are essential. This two-volume work reviews why we should internationalise current cross-border insolvency and how we could restructure laws to address inadequacies.

The two-volume work evaluates international regulatory reforms directed at detecting and managing cross-border insolvency and restructuring crises across the entire economy including financial markets. The authors call for schemes of arrangements and letters of comfort to be formally accepted as international legal tools. The work also assesses recent, but as yet unregulated developments in financial agreements, namely, the use of close-out netting provisions. They are a significant preventative legal mechanism, protecting debtors, creditors and employees among others, before a declaration of insolvency. The book discusses international arbitration, data protection and artificial intelligence in cross-border insolvency and restructuring. Finally, it seeks a meaningful balance between self-regulation through financial contracts and other party practices, and regulation imposed by governments and international financial regulators.

This extensive work will be a useful reference for legal practitioners, policy makers and scholars working on financial regulation and international financial laws.

Leon Trakman is UNSW Emeritus Professor and Former Dean of Law at the University New South Wales in Sydney, Australia. He has held professorial appointments in the United States, at Wisconsin, University of California (Davis) and Tulane; in Canada at McGill and Dalhousie; and in Australia at UNSW. He is author of ten books and over 150 journal articles including on topics that are addressed in this book. A barrister and international commercial arbitrator, he serves on international commercial arbitration panels of global arbitration centres. A panellist under the NAFTA, he was regularly appointed by the US, Canadian and Mexican Governments to resolve trade and investment disputes. He currently serves on the Remedies Panel of the United States Mexico Canada Agreement (USMCA). He holds both Master and Doctorate degrees from Harvard University.

Robert Walters, Lecturer, Victoria University, Melbourne, Australia. Dr. Walters is also Adjunct Professor of Law, European Faculty of Law, New University, Slovenia, Europe, and admitted to practice law in Australia. Robert is a qualified International Arbitrator. He is a member of ASEAN Law Association – Singapore, Asia Pacific Scholar (Privacy/Data Protection) Network. His work on cross-border data flows in the new digital economy has been recognised globally, and in 2021 he was engaged by the British Government to undertake a project on determining data adequacy across commonwealth countries. Dr. Walters specialises in transnational commercial and private law (data protection, cyber security, artificial intelligence, trade, finance and investment including cross-border insolvency, contracts and arbitration).