[Updated 20 April 2020, originally published 30 March 2020]
In response to the economic implications of the COVID-19 pandemic, governments, central banks and other bodies have implemented and/or raised measures intended to help market participants. In this document, we provide an overview of some of the initial action taken in certain jurisdictions in Asia, together with outline characteristics across various regional insolvency regimes.
So far, such directions as have been made in Asia primarily relate to small and medium sized enterprises, with larger lending positions under consideration. The situation continues to develop apace and updated information regarding additional or amended measures should be expected – please check back to this document periodically for material updates.
The focus in this document is measures affecting enforceability of loans as well as legislation overriding current obligations, rather than more general monetary or fiscal policy/stimulus. We intend to provide further information and clarifications over time: the latest updates are added in red text. Please click the below link for more details.