Thailand hosts Forum for Asian Insolvency Reform

BANGKOK, Sept 17 (TNA) -- Twenty one representatives from the Ministry of Justice, Department of Justice, World Bank Group and insolvency experts attended the 11th annual conference of the Forum for Asian Insolvency Reform (FAIR) which is being hosted by Thailand from September 16 - 17. The event is a platform for the exchange of ideas to improve judicial process with regards to insolvency laws. Wiisit Wisitsoraat, Permanent-Secretary for Justice stated that this year's meeting is being attended by specialists from Asia and all over the world to reform the law related to the insoilvency to make it more competent and response to the changing of the economy and society. Ms Ruenvade suwanmongkol, Director-General of the Legal Execution Department said that Thailand has amended its insulvency laws particularly during the past four years beginning in 2015. Three major legislations have been amended which was driven by the government's desire to gain parity with international standards on bankruptcy. (TNA)