| Project Detail |
Micro, small, and medium-sized enterprises (MSMEs) are an important part of most economies, and major sources of job creation and innovation. However, experts and international organizations have noted that insolvency frameworks in most modern economies are geared towards managing the liquidation or restructuring of larger businesses, and maybe less well suited to MSMEs that may face barriers associated with cost, complexity, and creditor engagement.[1] The question of how to improve the functioning of insolvency laws for MSMEs has been studied by international organizations, such as the World Bank, the OECD, and UNCITRAL. Several APEC economies have implemented specialized or streamlined insolvency regimes to improve MSME access following different approaches. Against this backdrop, a panel discussion workshop comprised of member economies that have different experiences with structural reforms that focus specifically on MSME insolvency could help generate comparative insights into these issues and could be of benefit to APEC economies that are seeking to further understand and analyse different approaches, or to implement regimes in their jurisdictions. |
