Secured Transactions Law in Asia

Louise Gullifer is Rouse Ball Professor of English Law at the University of Cambridge.Dora Neo is Associate Professor and the founding Director of the Centre for Banking & Finance Law at the Faculty of Law, National University of Singapore.

This collection of essays offers a unique insight and overview of the secured transactions law in many of the most important countries in Asia, as well as reflections on the need for, benefits of and challenges for reform in this area of the law. The book provides a mixture of general reflections on the history, successes and challenges of secured transaction law reform, and critical discussion of the law in a number of Asian countries. In some of the countries, the law has already been reformed, or reform is under way, and here the reforms are considered critically, with recommendations for future work. In other countries, the law is not yet reformed, and the existing law is analysed so as to determine what reform is desirable, and whether it is likely to take place. First, this book will enable those engaging with the law in Asia to understand better the contours of the law in both civil and common law jurisdictions. Second, it provides analytical insights into why secured transactions law reform happens or does not happen, the different methods by which reform takes place, the benefits of reform and the difficulties that need to be overcome for successful reform. Third, it discusses the need for reform where none has yet taken place and critically assesses the reforms which have already been enacted or are being considered. In addition to providing a forum for discussion in relation to the countries in question, this book is also a timely contribution to the wider debate on secured transactions law reform which is taking place around the world.

Companion volume to Secured Transactions Law Reform: Principles, Policies and Practice, ISBN 9781849467438 (Hart Publishing, 2016) and Secured Transactions Law Reform in Africa, ISBN 9781509913077 (Hart Publishing, 2019)

1. IntroductionLouise Gullifer, University of Cambridge, UK and Dora Neo, National University of SingaporePART IGENERAL2. Lost in Transplantation? Modern Principles of Secured Transactions Law as Legal TransplantsCharles W Mooney, Jr, University of Pennsylvania, USA3. Personal Property Securities Law Reform in Developed JurisdictionsAnthony Duggan, University of Toronto, Canada4. Secured Transactions Law Reform in Asia and Access to Finance: What can the UNCITRAL Model Law on Secured Transactions Offer?N Orkun Akseli, University of Durham, UK5. Secured Transactions Reform in East Asia: Progress and ChallengesElaine MacEachern, World Bank Group, Financial Institutions Group Advisory Services (Washington DC), USAPART IICIVIL LAW JURISDICTIONS6. Secured Transactions Law Reform in Civil Law Jurisdictions: Challenging Tradition, Facing Reality, and Embracing ModernityTeresa Rodríguez de las Heras Ballell, , Universidad Carlos III de Madrid, Spain7. The Law of Secured Transactions in China: Comparison and Future ReformLebing Wang, University of International Business and Economics, Beijing, PRC.8. Secured Transactions Law Reform in Indonesia: Fiducia, at a CrossroadsIbrahim Assegaf, STIH Indonesia Jentera, Jakarta, Indonesia and Aria Suyudi, STIH Indonesia Jentera, Jakarta, Indonesia9. Navigating the Patchwork of Secured Transactions Rules in Japan: Towards a Framework Conducive to Asset Based LendingMegumi Hara, Gakushuin University, Japan10. Banking the Unbanked: An Examination of the Personal Property Security Act of the PhilippinesAnthony Amunategui Abad, Ateneo de Manila University, Philippines, David Kintanar Rosario III, Abad Alcantara & Associates, Philippines and Griselda (Gay) Santos, Financial Executives Institute of the Philippines11. Korea: The Coexistence of Old and New Secured Transactions Law RegimesYoungjoon Kwon, Seoul National University, Korea12. Law Reform of the Secured Transactions Regime in Taiwan: Modernisation, Controversies, and ProspectsAndrew Jen-Guang Lin, National Taiwan University, Taiwan13. Implementation of International Standards on Secured Transactions into the Thai Legal System: Possibilities and ProposalsParawee Kasitinon, Thammasat University, Bangkok, Thailand14. Secured Transactions Reform in Vietnam: Prominent Achievements, Experiences, and Lessons LearntHuyen Pham, International Finance Corporation (IFC), World Bank Group, VietnamPART IIICOMMON LAW JURISDICTIONS15. Secured Transactions Law Reform in Common Law Jurisdictions (Brunei Darussalam as an Example)Louise Gullifer, University of Cambridge, UK16. Bangladesh Secured Transactions Framework: Moving Towards a ReformMarek Dubovec, Kozolchyk National Law Center, USA and Junayed Chowdhury, Vertex Chambers, Bangladesh and Vertex International Consulting, Australia17. Secured Transactions Law in India: Suggestions for ReformsM R Umarji, Indian Delegate to UNCITRAL Working Group VI on Secured TransactionsLaw18. Pakistan's Reform of Secured Transactions Law: Challenges and the Road AheadMarek Dubovec, Kozolchyk National Law Center, USA and Zahra Abid, Haidermota & Co, Pakistan19. Secured Transactions Law in Singapore: Living with UntidinessDora Neo, National University of Singapore20. ConclusionLouise Gullifer, University of Cambridge, UK