A proposal to establish a Regional Network on Asian Insolvency Reform under the APEC Finance Ministers’ Process was discussed at the Forum on Asian Insolvency Reform (FAIR) held at Beijing in April 2006. The proposal was approved at the APEC Senior Finance Officials Meeting held in June 2006 in Nha Trang, Vietnam. It has been endorsed as one of the APEC Finance Ministers’ Policy Initiatives.
The main aim of the network is to provide a strengthened ongoing platform to share information among policy advisors about reforms, capacity building and technical assistance initiatives for insolvency systems and related matters in the Asian region. Over time, the network will accumulate knowledge about initiatives and their outcomes, which could be a resource that members could consult when considering the scope, coordination and sequencing of reform initiatives. The network will not have any decision making roles.
Although insolvency law is a key focus, the subject matter also encompasses the surrounding infrastructure that impacts on insolvency systems. Examples may be changes to the structure, administration or processes of government regulators, courts or relevant professional bodies.
Network bulletins are compiled by the Network Secretariat which include a brief description of developments and provides links to documents containing more detail. In some cases, members may wish to find out even more information – for example – some background material about why a particular approach was taken. In such cases, the network will provide an initial channel for direct communications among members. Members will not be obliged to answer any questions merely because they are asked to do so – whether they choose to do so is a matter for each member to decide in the circumstances.
In future there may be a ‘members only’ section added to the website, accessible by username and password.
The Network Secretariat may seek contributions to the regular bulletin and the website from the Steering Committee (see below) and from members. Members may provide either articles suitable for publication or simply provide the Secretariat with some information and the Secretariat will write an article based around it.
The core of the network is persons involved in policy development relating to insolvency systems in the Asian region. Those persons are usually officials in government departments, insolvency regulators, significant donors, technical experts and regional/international organisations. The network is not restricted to APEC member economies. Rules on eligibility for membership will be developed by the proposed Steering Committee if required.
The primary means of communication is electronic. However, meetings of network members are organised in conjunction with other suitable meetings, such as the Forum on Asian Insolvency Reform (FAIR).
There is no joining fee or ongoing membership charge. However, members will be invited to contribute information for the network bulletins and may, from time to time, be asked questions by other members.
The Network Secretariat is currently being run by the Australian Treasury in partnership with INSOL International.
The Secretariat is guided by a Steering Committee, which oversights the Network and the FAIR. The Steering Committee comprises representatives of APEC, UNCITRAL, INSOL International, the OECD and the World Bank. The Steering Committee has adopted a Charter which sets out its structure and functions.
If you are interested becoming a member of the network, please send in your contact details, including your name, position, organisation, address, email, telephone number and fax number to the network secretariat at the following email address: email@example.com.