ABSTRACT
This chapter examines insolvency law and practice in six Asian jurisdictions. Based on a socio-cultural study of the perceptions and practices of leading insolvency practitioners, officials and business people, it explores specific manifestations of 'rule of law' as reflected in the character and operation of insolvency regimes in six Asian legal systems. The chapter looks in particular at insolvency practice in China, Taiwan, Hong Kong, Singapore, Malaysia and Indonesia. It explains the conceptual diversity of the rule of law as found in Asia and the resort to practices not in keeping with the Western concept of the rule of law. The chapter further suggests that any analysis of the rule of law in Asia must take into account the diversity of Asian cultural, social and political contexts and the legally pluralistic character of these jurisdictions. Sometimes, the cultural values such as the Confucian ethic, run counter to values inherent in the rule of law idea.
