Asia restructuring and insolvency briefing - Taiwan

What are the options for companies in financial difficulty in Taiwan?

If the company is listed on the Taiwan stock exchange, then the company may pursue a formal reorganisation as set forth under Article 282 of the Company Act.  

If a listed company (as referred to above) is unable to pursue reorganisation, and in respect of all other companies, a company will enter into a formal bankruptcy procedure under the Bankruptcy Act in order to implement an equitable and orderly repayment scheme amongst its creditors.  

Filed under:
Insolvency & Restructuring, Norton Rose Fulbright, Share (finance), Public company, Bankruptcy, Shareholder, Debtor, Board of directors, Debt, Liquidation, Prejudice, Debt restructuring, Trustee
Location:
Taiwan
Firm:
Norton Rose Fulbright
A scheme actuary’s calculation of the sponsoring employer’s debt cannot be challenged by insolvency practitioners in the absence of fraud or error

Gleave and others v The Board of the Pension Protection Fund [2008] EWHC 1099 (Ch)

The High Court ruled that calculations of employer debt by scheme actuaries cannot be challenged by insolvency practitioners unless there is evidence of fraud or error.

Filed under:
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Fraud, Board of directors, Debt, Retirement, Valuation (finance), Actuary, Pension Protection Fund, High Court of Justice
Location:
United Kingdom
Firm:
Norton Rose Fulbright