ORCID Profile
0000-0002-2932-9550
Current Organisations
University of Papua New Guinea School of Law
,
Bond University
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Publisher: Wiley
Date: 05-08-2021
DOI: 10.1002/IIR.1425
Abstract: Creditors often face significant information asymmetry when debtor companies seek to restructure their debts. In the United Kingdom, it is mandatory for debtor companies, seeking to invoke the courts' jurisdiction to restructure their debts via schemes of arrangement (schemes), to disclose material information in the explanatory statement to enable the creditors to make an informed decision as to how to exercise their votes in creditors' meetings. The English schemes have been transplanted into common law jurisdictions in Asia, including Hong Kong and Singapore. However, due to the differences in the shareholding structures and the kinds of debts that are sought to be restructured in the UK and Hong Kong/Singapore, this transplantation gives rise to the question as to whether information asymmetry is in fact adequately addressed in the scheme process. Drawing from the experiences of Hong Kong and Singapore, we argue that there are three principal concerns in the current disclosure regimes: how debtors disclose the analysis as to the returns pursuant to the best available alternative option if the schemes do not proceed how debtors disclose advisors' fees and the equality of provision of information in the scheme process.
Publisher: Bond University
Date: 05-07-2022
DOI: 10.53300/001C.36906
Abstract: State-Owned Enterprises (SOEs) play a pivotal role in the economic development of Papua New Guinea (PNG). The country’s economy is heavily dependent on the mining and petroleum sector for revenue generation. Successive governments have relied on SOEs to manage the state’s equity interests in collaboration with resource developers. In 2015, the Kumul Minerals Holding Limited Authorization Act 2015 (KMHLAA) and the Kumul Petroleum Holdings Limited Authorization Act 2015 (KPHLAA) were passed by the Papua New Guinean Parliament, to consolidate all State interests in resource projects and to appoint the incumbent Prime Minister to be the sole trustee. This paper examines these legislative provisions and argues that the above legislative provision contradicts proven corporate governance best practices. The paper also suggests possible reforms in conjunction with practice from benchmarking countries and developing countries that have elevated their corporate governance structures through reforms.
Publisher: Wiley
Date: 23-11-2021
DOI: 10.1002/IIR.1397
Publisher: Canberra, ACT: Dept. of Pacific Affairs, Coral Bell School of Asia Pacific Affairs, The Australian National University
Date: 2022
DOI: 10.25911/12M4-RD97
Publisher: Canberra, ACT: Dept. of Pacific Affairs, Coral Bell School of Asia Pacific Affairs, The Australian National University
Date: 2022
DOI: 10.25911/ZDE7-6M06
Publisher: Canberra, ACT: Dept. of Pacific Affairs, Coral Bell School of Asia Pacific Affairs, The Australian National University
Date: 2021
DOI: 10.25911/V5S0-Q670
Publisher: School of Advanced Study
Date: 12-09-2017
Location: Papua New Guinea
No related grants have been discovered for Glen Mola Pumuye.