Current Problems and Trends in the Administration of Transnational Insolvencies Involving Enterprise Groups: The Mixed Record of Protocols, the Uncitral Model Insolvency Law and the EU Insolvency Regulation
Year: 2011
Type: article
Abstract: That commerce has become international in scope is a fact known to all in the legal community. Many large companies now have operating subsidiaries in a large number of countries, and those countries have radically different legal regimes. The law of insolvency is no different; indeed, the differences in legal regimes are of particular import as insolvency law is largely driven by jurisdictions' policy preferences on the relationship between debtors and creditors. But when international enterprise groups go bust, domestic bankruptcy law is incapable of handling the private international law issues that are implicated. While there have been efforts in recent years to bring harmony to the chaos, it is increasingly clear that the current framework cannot adequately address the problems encountered by transnational enterprise groups. This Comment explores the current framework and proposes sensible first steps to address the framework's shortcomings.
Source: bepress Legal Repository
Author: Anthony Vincenzo Sexton
Institution: University of Chicago
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1544045631