Four Models for International Bankruptcy

Trautman, Donald T.; Westbrook, Jay Lawrence; Gaillard, Emmanuel

doi:10.2307/840759

Cited by 24 publications

(2 citation statements)

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“…The influence of the Council of Europe text on this document was palpable, with commentators stating that the differences between early European Community drafts and the Convention represented 'a dramatic retreat from the universalism principle' inherent in previous drafts. 107 A comparison between the European Community and Council of Europe texts revealed similarities including the division between primary and secondary jurisdiction criteria, with the use of the 'centre of the debtor's main interests' to justify primary assumption of jurisdiction, although there were important differences in the later definitions used to develop the concepts. Differences, however, included the addition of uniform choice of law provisions, although some commentators regretted the territorial nature of some of these provisions.…”

Section: International Developmentsmentioning

confidence: 99%

Developments in Cross-Border Insolvency Practice in the United Kingdom

Omar¹

2002

Bond Law Review

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International insolvency has aroused a great deal of interest in recent years, owing to the spectacular rise in cases of the collapse of banks and multinational companies situated in a variety of jurisdictions. There has been considerable progress in England and Wales from the traditional common law methods of asserting jurisdiction and their statutory equivalents, which lead inevitably to the winding up of the company, towards procedures for reciprocal assistance, which allow domestic procedures to be extended to the foreign company. This often has the effect of allowing the company to attempt to consolidate its economic future through the judicious use of those rescue regimes available in domestic law. The history in the United Kingdom for cooperation has been good, with many of the cases leading the way in developing the principle that domestic courts should allow the most efficient result to obtain for the benefit of creditors and other participants in the process as a whole. Often, this requires domestic courts to extend jurisdiction and the rules in the United Kingdom are framed widely, so as to allow for very wide bases for asserting jurisdiction, where there is a conceivable benefit from doing so.

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Section: International Developmentsmentioning

confidence: 99%

Developments in Cross-Border Insolvency Practice in the United Kingdom

Omar¹

2002

Bond Law Review

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“…First, if the country follows the 'territorialism' approach, it would resort to its domestic set-up for resolving the cross-border insolvency (Trautman et al, 1993). One example would be Singapore which under the old Companies Act followed this school of thought (Halimi, 2017).…”

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The Need for Implementing a Cross-Border Insolvency Regime within the Insolvency and Bankruptcy Code, 2016

Das

2020

Vikalpa: The Journal for Decision Makers

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The research article has been divided into three sections to achieve the core aim. The first section provides a background to the paper. The second section compares the essential provisions in the United Nations Commission on International Trade Law (UNCITRAL) Model Law with the relevant provisions of the Insolvency and Bankruptcy Code, 2016 (IBC). The third section explores the challenges and opportunities regarding the cross-border system in the IBC, including a critical analysis of the Insolvency Law Committee's (ILC) recommendations. The last section of the research article lays down the concluding remarks and suggestions.

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Recognition of a foreign “automatic stay” in Bankruptcy ‐ the position of Germany, France and the United States

Trunk¹

1994

Intl Insolvency Rev

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In cross-border insolvencies creditors often try to secure payment of their individual claims by attachment of the debtor's property abroad. The bankruptcy court may order a stay offoreign proceedings, but often measures of coercion will only be efficient if foreign courts co-operate. This article examines, from the viewpoint of the non-bankruptcy country, the effects of a foreign insolvency proceeding upon actions or execution proceedings in Germany, France and the United States. It deals only with the recognition of a foreign (automatic)' stay, in contrast with a domestic automatic stay as consequence of a domestic parallel bankruptcy proceeding. However, it must be kept in mind that parallel bankruptcy proceedings can be co-ordinated with each other2; in this case, they are an alternative model of co-operation.

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Four Models for International Bankruptcy

Cited by 24 publications

References 0 publications

Developments in Cross-Border Insolvency Practice in the United Kingdom

Developments in Cross-Border Insolvency Practice in the United Kingdom

The Need for Implementing a Cross-Border Insolvency Regime within the Insolvency and Bankruptcy Code, 2016

Recognition of a foreign “automatic stay” in Bankruptcy ‐ the position of Germany, France and the United States

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