Latest news with #AseanLawForum
The Star
4 days ago
- Business
- The Star
Cross-border insolvency issue tops Asean Law Forum
Legal commitment: Azalina (centre) states that the forum will see Asean law ministers commit to legal reforms. — Bernama KUALA LUMPUR: The issue of cross-border insolvency is set to be one of the main highlights at the Asean Law Forum (ALF) 2025, which will be held at the Kuala Lumpur Convention Centre from Aug 19 to 21, says Datuk Seri Azalina Othman Said. The Minister in the Prime Minister's Department (Law and Institutional Reform) said cross-border insolvency is considered a solution to business-related issues, leveraging alternative dispute resolution mechanisms, rather than relying solely on court proceedings. 'When Asean countries cooperate with each other, (whether involving) companies or governments, and encounter obstacles in certain matters, they can turn to international platforms for mediation or cross-border insolvency proceedings,' she told reporters at the ALF 2025 pre-launch ceremony at the Parliament building yesterday, Bernama reported. The forum, which will bring together international law experts and practitioners, is expected to address regional and international legal issues such as international mediation, online security, cybercrime, human rights in business, and reforms in criminal and commercial law. Azalina also said the forum will witness the adoption of a joint statement by Asean Ministers of Law on the Empowerment of International Commercial Arbitration and Mediation, symbolising Asean nations' commitment to legal reform. 'This further strengthens cooperation, reflecting Asean's core vision based on the rule of law for sustainable economic growth and regional integration,' she added. Prime Minister Datuk Seri Anwar Ibrahim is scheduled to deliver the keynote address at the forum on Aug 21. Azalina said the forum marks a new chapter in the efforts of the Legal Affairs Division of the Prime Minister's Department to strengthen the nation's legal framework, in line with Malaysia's chairmanship of Asean this year.
New Straits Times
4 days ago
- Business
- New Straits Times
Asean to align laws on AI, cybercrime and cross-border disputes
KUALA LUMPUR: Asean countries are set to align their legal frameworks in key areas such as artificial intelligence, cybercrime and cross-border commercial disputes. A joint statement on this will be signed at the upcoming Asean Law Forum in Kuala Lumpur. The statement will reflect the region's collective commitment to addressing emerging legal challenges, particularly in the digital era, said Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. "This joint statement is very significant because it shows that Asean countries — particularly our law ministries, justice departments and legal agencies — are ready to work closely on shared legal concerns," she said at the forum's soft launch here. She said the agreement will cover a broad range of transnational legal themes, including international arbitration and mediation,cross-border insolvency, online safety and cybercrime, AI in legal practice, criminal and commercial law reform and business and human rights. Azalina said international arbitration and mediation, in particular, are becoming key mechanisms to resolve commercial disputes among Asean businesses and governments. "So when Asean countries do business with each other — whether involving companies or governments — and disputes arise, they can turn to international mediation or arbitration platforms. "These are among the key subjects that I hope will be included in the joint statement and signed collectively by all Asean nations, aligning their respective domestic legal frameworks and ensuring applicability within Malaysia." Azalina said the forum is expected to serve as a platform for Asean members to share best practices and move towards common legal approaches, especially in areas where the region faces similar challenges. "On AI, for example, all Asean countries are grappling with the same issues. That's why we need aligned or at least consistent legal frameworks to ensure effective implementation and protection." The Asean Law Forum 2025, scheduled to be held at the Kuala Lumpur Convention Centre from Aug 19 to 21, is themed "Enhancing access to justice in the Asean Economic Community: Bridging legal cooperation for inclusive growth in the digital age."
The Star
21-04-2025
- Business
- The Star
Cross-Border Insolvency Bill to be tabled soon, says Azalina
PUTRAJAYA: Local creditors of insolvent companies with assets within the Asean region may be able to recover their debts soon, says Datuk Seri Azalina Othman. The Minister in the Prime Minister's Department (Law and Institutional Reform) said that this is one of the measures proposed under the Cross-Border Insolvency Bill to be presented in Parliament this June. "With the Asean Law Forum to be held this August, I have also visited several Asean nations and met with their law and judicial ministers. "Their feedback has been very positive on cross-border insolvency," she told reporters during the Hari Raya Open House celebration here on Monday. (April 21). She emphasised the importance of securing commitment from Asean neighbours concerning issues related to the bankruptcy and insolvency of the affected companies. "This is to allow us to cooperate so that their assets will not be left idle and can be used to settle debts among creditors, and as such," she said. In February, Azalina and Domestic Trade and Cost of Living Minister, Datuk Armizan Mohd Ali issued a joint statement on the setting up of a Cross-Border Insolvency Working Committee to align the country's insolvency laws with international standards. Among the steps taken is the introduction of new laws to strengthen the cross-border insolvency management system, especially for assets that span multiple countries. The proposed law would also support corporate rehabilitation efforts for local companies undergoing corporate rescue mechanisms. It would also facilitate winding-up processes under the Companies Act 2016 when a company's assets and liabilities are in more than one country. The tabling of the Bill comes as Malaysia plans to adopt the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency.
