Regional Network on Asian Insolvency Reform:
Questions and Answers

What is the background to the Regional Network on Asian Insolvency Reform?

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.

What is its purpose?

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.

What type of information will members get?

Although insolvency law reform will be a 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.

How will the information be accessed by members?

A regular bulletin provides a brief description of an initiative but provide links to documents containing more detail. Those source documents might be kept on the network website itself or, if the document is available on a public website elsewhere, the network website will include an appropriate link. 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 will be a ‘members only’ section added to the website, accessible by username and password.

Who decides what information is provided?

The Network Secretariat in the Australian Treasury will seek contributions to the regular bulletin and the website 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.

It is proposed to establish a Steering Committee of members to guide the Secretariat when the membership is more fully established to guide the Secretariat in selecting suitable material.

Who is eligible to join?

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.

Will there be meetings of members?

The primary means of communication will be electronic. However, meetings of network members will be organised to be held in conjunction with other suitable meetings.

Is there a cost to being a member?

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.

Who is coordinating the network?

The Network Secretariat is being run by the Australian Treasury and is being funded by AusAID, the Australian Agency for International Development.

How do I become a member?

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: insolvencynet@treasury.gov.au. The membership list is being compiled now.