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NCJ Number: 194228 Add to Shopping cart Find in a Library
Title: International Insolvency
Author(s): Samuel L. Bufford; Louise DeCarl Adler; Sidney B. Brooks; Marcia S. Krieger
Corporate Author: Federal Judicial Ctr
United States of America
Date Published: 2001
Page Count: 173
Sponsoring Agency: Federal Judicial Ctr
Washington, DC 20002
U.S. Government Printing Office
Washington, DC 20401-0001
Publication Number: 2001-491-929/52360
Sale Source: Federal Judicial Ctr
Thurgood Marshall Federal Judiciary Building
One Columbus Circle, NE
Washington, DC 20002
United States of America

U.S. Government Printing Office
732 North Capitol Street
Washington, DC 20401-0001
United States of America
Type: Report (Study/Research)
Format: Book (Softbound)
Language: English
Country: United States of America
Annotation: A summary of common statute and case law governing the handling of cross-border insolvency issues designed as a reference for U.S. Federal judges.
Abstract: In response to the increasing internationalization of the laws governing cross-border insolvency, the Federal Judicial Center prepared a report summarizing the current international law principles for dealing with the legal issues created by the insolvency of entities with multinational presence and operations. The introduction of the book sets out the framework of international insolvency law including a review of the universality approach (a single forum uses a single approach to resolve all issues) versus territoriality approach (each affected jurisdiction applies its own approach to the issues within its jurisdiction) to legal issues. The case law discussion is divided into discussion of domestic insolvency proceedings with transnational aspects and a separate discussion of foreign cases with domestic aspects. For either proceeding type, principles of establishing jurisdiction, extranational effect of individual county’s laws, and a discussion of the law applied to the cases are presented. In addition to the case law discussion, the role of international conventions and other sources of codified international insolvency law are presented for review. In particular, the authors provide discussions of the United Nations Commission on International Trade Law (UNCITRAL) Model law, the North American Free Trade Agreement (NAFTA), the European Union Regulation on Insolvency Proceedings, the International Bar Association Cross-Border Insolvency Concordat, and the role of negotiated protocols in the resolution of cross-border insolvency issues. Finally, the authors discuss five key procedural concerns to the appropriate handling of a cross-border insolvency matter. Those procedural concerns include the determination of the appropriate venue for the matter under discussion, how to determine and accomplish appropriate notice to creditors with an interest in the insolvency, the need for and the principles governing appropriate communications among multiple judges involved in a particular proceeding, the appropriate application of conflict of laws principles, and the principles governing appropriate distribution to interested creditors. The book also includes model laws and international laws regarding legal rights in the event of the an international enterprise's insolvency, specifically the texts of the Cross-Border Insolvency Concordat, the UNCITRAL Model Law on Cross-Border Insolvency and the European Union Regulation on Insolvency Proceedings. Notes
Main Term(s): International law
Index Term(s): International cooperation; Judicial decisions; Laws and Statutes; US/foreign comparisons
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