The Problem of Local Methods in Cross-Border Insolvencies PDF Download
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Author: Andrew Dawson
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
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Book Description
A major and frequent criticism of the current cross-border insolvency framework is that international cooperation is likely to break down whenever significant local interests are at risk. The Model Law on Cross-Border Insolvencies, adopted in Chapter 15 of the Bankruptcy Code, and the commentary thereon have largely focused on such instances when states might be unwilling to cede control over local property, i.e., sovereignty-related problems. This article is the first to explore a separate set of problems in cross-border insolvencies that have little or nothing to do with sovereignty-related concerns. Cross-border insolvency law also faces acculturation problems as states attempt to synthesize the Model Law into already existing legal structures. Cultural differences between the Model Law and domestic laws may impede the Model Law's goals of promoting legal certainty in this field. These cultural differences may include terminology and interpretation issues, as well as case management and procedural issues.This article examines two recent opinions from the Second Circuit Court of Appeals to illustrate these acculturation problems. It then considers the degree to which the Model Law (and Chapter 15) are currently equipped to minimize such defections. UNCITRAL, when drafting the Model Law, created a Guide to Enactment and Interpretation in order to promote consistent interpretation. I conclude that this Guide may be effective at dealing with some issues, but that it is ill-suited to address differences in the manner of interpretation.
Author: Andrew Dawson
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
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Book Description
A major and frequent criticism of the current cross-border insolvency framework is that international cooperation is likely to break down whenever significant local interests are at risk. The Model Law on Cross-Border Insolvencies, adopted in Chapter 15 of the Bankruptcy Code, and the commentary thereon have largely focused on such instances when states might be unwilling to cede control over local property, i.e., sovereignty-related problems. This article is the first to explore a separate set of problems in cross-border insolvencies that have little or nothing to do with sovereignty-related concerns. Cross-border insolvency law also faces acculturation problems as states attempt to synthesize the Model Law into already existing legal structures. Cultural differences between the Model Law and domestic laws may impede the Model Law's goals of promoting legal certainty in this field. These cultural differences may include terminology and interpretation issues, as well as case management and procedural issues.This article examines two recent opinions from the Second Circuit Court of Appeals to illustrate these acculturation problems. It then considers the degree to which the Model Law (and Chapter 15) are currently equipped to minimize such defections. UNCITRAL, when drafting the Model Law, created a Guide to Enactment and Interpretation in order to promote consistent interpretation. I conclude that this Guide may be effective at dealing with some issues, but that it is ill-suited to address differences in the manner of interpretation.
Author: Look Chan Ho
Publisher:
ISBN: 9781911078210
Category : Law
Languages : en
Pages : 0
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Book Description
Cross-border insolvency is an increasingly topical issue and cross-border insolvency practice continues to develop rapidly. Cross-Border Insolvency: A Commentary on the UNCITRAL Model Law, 4th Ed is an updated, enhanced edition covering the national implementation of the United Nations Commission on International Trade Law Model Law on Cross-Border Insolvency.Written by specialists from each jurisdiction, this new edition provides an in-depth, article-by-article analysis of the local enactment and application of the model law in each of the jurisdictions concerned, alongside consideration of the relationship between the model law and any existing cross-border insolvency jurisprudence. Each chapter adopts essentially the same format for ease of reference, addressing key concepts such as the centre of main interests, court-to-court communication, enforcement of security interests and the protection of debtors and creditors.New to the fourth edition are chapters on Chile and the Philippines with an expanded South African chapter to include the OHADA countries.This major new edition is an invaluable guide to the local application and comparative analysis of the model law for anyone dealing with cross-border insolvency issues. Lawyers in private practice or in-house, insolvency practitioners, government authorities, academics and students will find this expanded edition an essential addition to their library.
Author: E. Leonard
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
This work, undertaken by the Insolvency and Creditors' Rights Committee of the International Bar Association's Section on Business Law, gathers together a critical assessment of some of the most pressing current issues in cross-border insolvency and reorganization, under the following headings: The Proposed European Community Insolvency Convention; Comparative Analysis of Chapter 11 with the UK Administration System; Maxwell Communication: New Aspects of Co-operation in International Insolvency; The Olympia & York Reorganization: Parallel International Reorganization Proceedings; Treatment of International Insolvency Issues in Japan; Cross-Border Insolvency Issues in Canada; Aspects of International Insolvency Administration in Germany; Practical Problems in Cross-Border Insolvencies; Recognition of Foreign Insolvency and Legal Proceedings in Italy; The New Insolvency Regimes in Russia and the CIS; Shareholder Liability, Consolidation and Pooling; The Model International Insolvency Co-operation Act; Effects of Foreign Bankruptcy Judgments and Power of Foreign Receivers - A French Perspective.
Author:
Publisher:
ISBN: 9789210563994
Category : Bankruptcy
Languages : en
Pages : 118
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Book Description
UNCITRAL model law on cross-border insolvency -- Guide to enactment and interpretation of the UNCITRAL model law on cross-border insolvency -- General assembly resolution 52/158 of 15 december 1997 -- decision of the united nations commission on international trade law
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 9781557758200
Category : Business & Economics
Languages : en
Pages : 108
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Book Description
Written by IMF's Legal Department, this book outlines the key issues involved in designing and implementing orderly and effective insolvency procedures, which play a critical role in fostering growth and competitiveness and may also assist in the prevention and resolution of financial crises. The book draws on lessons learned from firsthand experience by some of the IMF's 182 member countries. It includes an analysis of the major policy choices that countries need to address when designing an insolvency system, a discussion of the advantages and disadvantages of these choices, and a number of specific recommendations.
Author: Elina Moustaira
Publisher: Springer
ISBN: 3030044505
Category : Law
Languages : en
Pages : 160
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Book Description
This book presents problems that often arise in the context of international/cross-border insolvencies; analyzes and compares national legislations and jurisprudence; elucidates the solutions offered by international/regional instruments; and explores the differences in the implementation of these instruments by various countries and the consequences of these differences. It examines in detail a number of famous and less famous cases tried by national courts, in which it became readily apparent that insolvency law remains one of the bastions of national law. In addition, the book discusses the notion of transplanting foreign [international] insolvency rules and especially the influence that US insolvency law has exerted on other countries’ insolvency [and international insolvency] law. Far from adopting an unrealistically optimistic stance, it soberly examines the complications of cross-border insolvencies, while also presenting potential solutions.
Author: Bob Wessels
Publisher: Kluwer Law International B.V.
ISBN: 9041159959
Category : Law
Languages : en
Pages : 1042
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Book Description
Recent insolvency cases highlight the growing importance of cross-border insolvency matters in international transactions. In order to obtain relevant information essential for conduct in such transactions, an insolvency lawyer needs to have access to the many relevant instruments that have been introduced and implemented in recent years, but that until now have not been available in any single place. This very useful volume collects, for the second time in one source, all important international and regional legal instruments relating to insolvency of companies and consumers, as well as to corporate rescue law. The book includes international and regional conventions, model laws, EU regulations and directives, and guiding principles produced by various international bodies (such as the World Bank, the United Nations Committee on International Trade Law ('UNCITRAL'), the American Law Institute, INSOL International, and INSOL Europe), and international and European restatements of insolvency law by scholars. In addition to reproducing the complete texts of these instruments, the editors provide insightful commentary covering such important matters as the following: • key issues of each text; • expected amendments and revisions; and • comparative analysis of instruments. A unique resource bringing together core material in the field of cross-border insolvency law and legislation, this book will be welcomed by international insolvency practitioners worldwide.
Author: Xinyi Gong
Publisher: Routledge
ISBN: 1351690906
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
As a result of resumption of sovereignty over Hong Kong and Macao as well as the uncertain relationship between the Mainland and Taiwan, China has become a country composed of peculiar political compounds, resulting in four independent jurisdictions. This makes inter-regional legal cooperation a complicated yet compelling topic. Divided into five parts, this book considers possible solutions to problems in China’s inter-regional cross-border insolvency cooperation. These solutions are developed on the basis of two groups of comparative studies, including comparison among the cross-border insolvency systems of the four independent jurisdictions in China and comparison between EU Insolvency Regulation and the UNCITRAL Model Law. The author discusses the advantages and disadvantages of the two systems and presents original recommendations for the way forward. The book will be a valuable resource for academics and policy makers in insolvency law, Asian law and comparative law.
Author: Reinhard Bork
Publisher:
ISBN: 9781780684307
Category : Bankruptcy
Languages : en
Pages : 0
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Book Description
Insolvency proceedings have increasingly cross-border effects, which are regulated by many international regulations. This book answers the fascinating question of what the underlying principles of international (cross-border) insolvency laws are and how they can be used for the purpose of further harmonising cross-border insolvency law in the EU and beyond.
Author: Jodie Adams Kirshner
Publisher: University of Chicago Press
ISBN: 022653202X
Category : Law
Languages : en
Pages : 274
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Book Description
With the growth of international business and the rise of companies with subsidiaries around the world, the question of where a company should file bankruptcy proceedings has become increasingly complicated. Today, most businesses are likely to have international trading partners, or to operate and hold assets in more than one country. To execute a corporate restructuring or liquidation under several different insolvency regimes at once is an enormous and expensive challenge. With International Bankruptcy, Jodie Adams Kirshner explores the issues involved in determining which courts should have jurisdiction and which laws should apply in addressing problems within. Kirshner brings together theory with the discussion of specific cases and legal developments to explore this developing area of law. Looking at the key issues that arise in cross-border proceedings, International Bankruptcy offers a guide to this legal environment. In addition, she explores how globalization has encouraged the creation of new legal practices that bypass national legal systems, such as the European Insolvency Framework and the Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law. The traditional comparative law framework misses the nuances of these dynamics. Ultimately, Kirshner draws both positive and negative lessons about regulatory coordination in the hope of finding cleaner and more productive paths to wind down or rehabilitate failing international companies.
