The world's banker One wonders what the world will look like when the music stops, The Globe and Mail reported. China, the economic engine of the post-recession era, has already been on a buying spree, striking deals around the world largely in the resources sector. It's also the biggest foreign holder of America's debt, and has helped buoy other countries and companies.

Even before the financial crisis made a mockery of credit ratings, there was always a bit of a mystery over what exactly made for an AAA entity, The Economist Schumpeter blog reported. Broadly, it was seen as a statement of corporate solidity–the hallmark of an entity with an enduring franchise. Writ small, it suggested an ability to honour financial commitments forever. Confidence that this sort of description fit America has recently been shaken. Is it possible that China’s mighty rail industry could be the repository of such trust? The standard is not, of course, absolute.

On November 30 2010 the Tokyo District Court issued an order for the avoidance of a business transfer that was made by a bankrupt company before it filed for bankruptcy. The court also ordered the transferee to restore the transferred assets that could still be identified; in the case of assets that had been transferred, but could no longer be identified, the transferee was required to make payment to the value of such assets.

Thailand has signaled it may settle a dispute over outstanding debts in a case that prompted a German court to impound the personal jet of the Thai crown prince. A German insolvency lawyer showed resourcefulness and cunning in his curious fight with the Thai government -- and may end up getting his way. Click here for more..

Hong Kong's Court of Final Appeal recently held that no state may be sued in Hong Kong's courts unless the state waives its immunity, and that submitting to arbitration does not constitute a waiver. This will have a major impact on any business wanting to enforce a claim against a state's assets in Hong Kong. For the first time, the court also referred questions about the interpretation of Hong Kong's Basic Law to the standing committee of the National People's Congress in Beijing.

The insurance industry, designed as it is to smooth over life’s dramas, is meant to be somewhat dull. Insurers themselves mostly conform to this type: they produce modest, consistent returns—steady growth and, to reassure the skittish, a dividend. Things are different in China. Dividends are a trivial component of share prices, and the industry’s growth prospects are breathtaking, not boring. One measure of its buoyancy is the industry’s resilience in the face of a series of recent setbacks.

Masataka Shimizu, the president of Tokyo Electric Power, 66, announced his resignation near the darkened command center on the second floor of Tokyo Electric's headquarters where he had disappeared in the second week of the crisis after the March 11 earthquake. After being briefly hospitalized for exhaustion after the disaster and widely criticized for his lack of leadership, Shimizu had come back for a round of ritual apologies for Fukushima evacuees and the resignation. "We want to sincerely apologise for our nuclear reactors in Fukushima causing so much anxiety, worry and trouble to socie

Appointment An IP is not appointed to all types of insolvencies. In most instances, such as in bankruptcy and liquidation the Official Receiver is appointed. In the case of court reorganisation and voluntary dissolution of companies an IP appointment is made. Qualifications In the case of voluntary liquidation as well as bankruptcy, specific qualifications are not required for a person to act as an IP. In court supervised reorganisation however, to act as planner or plan administrator, a licence for doing so is required.

Appointment In most insolvency cases the government’s Official Assignee or Official Receiver is appointed to administer the insolvency. Usually the IP appointed is similar for different types of appointments.