Financial crises and financial institution insolvency
Established in the wake of the 1997 Asian Financial Crisis, (and since its establishment), one of AIIFL’s main interests has been in financial crises and financial institution insolvency. Clearly, this is an area in which interest has only grown in the wake of the 2008 Global Financial Crisis and 2010 Eurozone Debt Crisis. As one example, AIIFL was involved in the World Bank-IMF Global Bank Insolvency Initiative. Professor Joseph J. Norton and Douglas Arner worked with the international initiative led by the World Bank and the International Monetary Fund in conjunction with the Bank for International Settlements and various regional development banks to study and develop principles and practices to guide the resolution of bank insolvencies.