1. Hoelscher, D. and Quintyn, M. (2003) ‘A Framework for Managing Systemic Banking Crises, IMF Occasional Paper, Washington, DC.
2. Bank for International Settlements (2002) ‘Report of the Contact Group on the Legal and Institutional Underpinnings of the International Financial System: Insolvency Arrangements and Contract Enforceability’, available at http://www.bis.org/publ/gten06./htm .
3. World Bank (2001) ‘Principles and Guidelines for Effective Insolvency and Creditor Rights Systems’, World Bank, Washington, DC.
4. Some countries fear that recognising the decisions of another country with respect to the affairs of their own citizens, or persons residing within their jurisdiction, detracts from its independence to regulate its own citizens and territory. In many instances, countries refuse to respond to requests and applications for recognition and assistance when there is no guarantee of reciprocity from the requesting country. Other countries hesitate to consider acquiescing to cross-border insolvency requests, spending time thinking about whether or not cross-border recognition and assistance benefit local or foreign creditors. Others are paralyzed by the fear that their inability to deal with domestic insolvency cases makes them unable to apply international insolvency requests. Harmer, R. and Fischer, R. (2002) ‘Promoting Regional Cooperation in the Development of Insolvency Reform’, Asian Development Bank, Manila, available at: www.adb.bdw.com/paperpdf .
5. Harmer, R. and Fischer, R. (2002) ‘Promoting Regional Cooperation in the Development of Insolvency Reform’, Asian Development Bank, Manila, available at: www.adb.bdw.com/paperpdf .