Law and Order

On the last Friday of April, the Maritime Law Association of Singapore presented its 2nd Asian Maritime Law Conference entitled “Arrest, Insolvency and Pre-emptive Remedies in a Global Shipping Crisis”. The mood was somewhat sombre with many in the audience believing that the shipping crisis is still far from over. The mix of presenters included speakers from both the East and the West and brought great value and interest. Some of the more interesting takeaways for us, in no specific order, including the following:

- IMF estimates that bank losses from US toxic assets could reach USD 4 trillion. If we compare this figure to the global syndicated loan amount of USD 3 trillion in 2008, this is equivalent to one lost year of financial activities.

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