Insolvency

Chair
 

Byung Joo Lee Shin & Kim Ace Tower, 6th Floor 1-170 Soonhwa-dong, Chung-ku Seoul, Korea 100-712 Tel. 82-2-316-4114 Fax 82-2-756-6226 E-Mail: bjlee@shinkim.com

Vice-Chair

The Insolvency Committee has seen growing interest both in its membership as well as in its programs at each conference. The committee currently has more than 175 members not only from Asia but also from the Americas, Canada and Europe. Each conference has seen the Committee put up interesting sessions both singularly as well as joint sessions with other committees.

In 2005 at the annual conference in Bali, the Committee put up 3 sessions including one on the future of Indonesian insolvency : The System after Asia Pulp & Paper and Prudential. The sessions generated lively discussion and were well attended.

Then at the Sydney conference in 2006 the Committee had one single session: "U.S. Chapter 11: a model for the Asia and Asia Pacific Countries?" This session, chaired by Mr. Geoff Sutherland, saw Mr. James Sprayregen, a prominent insolvency practitioner from the U.S. lead the discussion with his views on U.S. Chapter 11.

The Committee also had 2 joint sessions at the Sydney conference. One was with the Employment Law Committee entitled "Employment Contracts and the Effect of Insolvency on Employee Rights and Employment Contracts". The other joint session was with the International Construction Projects Committee and it centered on an interesting case study put together by Mr. Sebastian Kuehl. The case study explored the issues facing a consortium (consisting of an Australian, Indian and Singapore companies) set up to build a wind park in the economic zone of India, including in the event of one or more parties to the consortium going bankrupt.

All the insolvency committee's sessions at Sydney saw prominent panelist, lively discussion and good attendance.

The Committee is planning to put up more than one session for the annual conference in Beijing. The Committee invites ideas for its sessions at the Beijing conference.

The Insolvency Committee invites all those interested in insolvency, including restructuring, workouts and reorganization as members of the Committee. The Committee also welcomes articles dealing with insolvency and other related issues for the IPBA Journal.