Magazine - April 1998

In publication since 1982, IFLR has become the trusted source for in-house counsel and law firms specialising in financial law.

Cover Story

  • Asia crisis special issue

  • Does the crisis bring default under MAC clauses?

    After currency devaluation in Asia, lenders and borrowers are scrutinizing material adverse change (MAC) clauses to determine their respective positions. By Richard M Gray of Milbank, Tweed, Hadley & McCloy, Singapore

  • How to arrange workouts in project financing

    The crisis in Asia has boosted the existing dangers of failures in project finance transactions. This article outlines the ways to find a solution to failures. By Troy Alexander of White & Case LLP, New York

  • Indonesian bankruptcy law protects creditors

    Indonesia offers two options to creditors: bankruptcy and moratorium law. The bankruptcy law is more attractive and designed for their benefit. By Robert N Hornick of Morgan, Lewis & Bockius LLP, New York

  • Japan offers debtors and creditors greater options

    Japan’s legal system has a range of alternatives for insolvency proceedings. Bankruptcy is by far the most common. By Naoaki Eguchi and Yoshiaki Muto of Tokyo Aoyama Law Office and Jeremy Pitts of Baker & McKenzie, Toyko

  • Korean insolvency laws protect foreign investors

    Creditors and shareholders of insolvent Korean companies have three main attractive systems to protect their interests. The courts are showing increasing flexibility. By YS Oh and Keun Byung Lee of Bae, Kim & Lee, Korea

  • New Bankruptcy Act to boost Thai economy

    Thailand’s new Bankruptcy Act should protect insolvent companies while providing incentives to foreign creditors to inject funds to reorganize businesses. By Kitipong Urapeepatanapong, Sawanee Sethsathira and Chirachai Okanurak of Baker & McKenzie, Bangkok

  • Law firms adjust to Asian economic troubles

    As capital markets, project finance and securities work dry up in Asia some law firms are concerned. Most are compensating by changing the emphasis of the work they offer. Some are even expanding. By Mairi MacLean of Baines Gwinner, London


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