You are here

It's time to change the Asian mindset about corporate restructuring

Western financial centres see insolvency proceedings as gateways to potential business rescue. In Asia, insolvency is seen as a procedure ending in liquidation.

Singapore has positioned itself as Asia's leading debt restructuring hub by enhancing its legal framework to make it relatively easy to rescue struggling companies.

IN ASIA, there has traditionally been a stigma associated with corporate insolvencies. The taint of insolvency can be hugely value-destructive; it can destroy the goodwill of the business, and brand the managers and controllers as failures and social outcasts.

Culturally, the problem is...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to