INSOL International Association of Restructuring, Insolvency & Bankruptcy Professionals is a world-wide federation of national associations for accountants and lawyers who specialise in turnaround and insolvency. Recently, INSOL International’s Board of Directors approved a set of model standard case management directions (“CMDs”) for insolvent trusts that were proposed by the INSOL Technical Research Committee.
As explained by the author of our Offshore feature, the concept behind the CMDs was to create a flexible model form of directions for insolvent trustees when they initially come before the Court, encompassing any special direction necessary due to the nature of a trust. These CMDs are now being suggested for use in a number of jurisdictions, and have been provided to key stakeholders, with the intention of working to standarise insolvency templates around the world and make insolvency procedures more universal. The CMDs are currently being reviewed by a host of academics and professionals and are open to comment by interested parties. You can find relevant information on how to access the CMDs and submit comments in the Offshore section inside.
Elsewhere in the October issue, the Insurance article looks at the growth potential for the local Hong Kong market for insurers to offer political risk insurance policies and discusses the salient features of institutional insurance policies, such as those offered by the World Bank’s Multilateral Investment Guarantee Agency (“MIGA”). The Medical Ethics piece examines the particular problems raised by the question of when and in what circumstances it is legitimate to withdraw treatment, by way of artificial nutrition and hydration, from a patient in a persistent vegetative state (“PVS”), contrasting the legal situations in England & Wales and Hong Kong.
Additionally, the Letter to Hong Kong Lawyer examines the recently enacted Apology Bill through the mediation perspective while the Practice Skills contribution humourously identifies eight ways to avoid ruining your reputation in the course of drafting legal documents. The President’s Message and the contribution from the Secretariat both discuss the Law Society’s exercise of its statutory power to intervene in the practice of certain non-compliant law firms and its invitation to law firms to join its Panel of Intervention Agents. Both note the Law Society‘s intention to host seminars to share the general nature of intervention work with interested firms, as the Law Society is keen to recruit more law firms to join its Panel.