International Cooperation in Bankruptcy and Insolvency Matters

Hardcover | April 16, 2009

byBob Wessels, Bruce A. Markell, Jason Kilborn

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International Cooperation in Bankruptcy and Insolvency is published in cooperation with the International Insolvency Institute and the American College of Bankruptcy. The Honorable Bruce A. Markell, Dr. Bob Wessels and Prof. Jason Kilborn provide readers with invaluable insights into theorigin, development and future of communication and cooperation in cross-border insolvency cases between insolvency practitioners and the courts. The globalization of the world's economy has led to highly complex international aspects of financial reorganization and restructuring. This publicationanalyzes the structures, systems, and practices that have developed and are quickly emerging to coordinate and enhance international administrations.

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International Cooperation in Bankruptcy and Insolvency is published in cooperation with the International Insolvency Institute and the American College of Bankruptcy. The Honorable Bruce A. Markell, Dr. Bob Wessels and Prof. Jason Kilborn provide readers with invaluable insights into theorigin, development and future of communication a...

Bob Wessels. Bob Wessels is the co-founder and Partner of Holland Van Gijzen Attorneys at Law, Rotterdam, The Netherlands and Professor of Business Law, Law Faculty, Vrije University in Amsterdam. Dr. Wessels is the immediate past Chairman of the Ernst and Young Law Alliance, comprising some 3000 lawyers in 70 countries (1997-2002);...
Format:HardcoverDimensions:304 pages, 6.81 × 10.12 × 0.79 inPublished:April 16, 2009Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195340175

ISBN - 13:9780195340174

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Table of Contents

Author's Foreword1. General IntroductionA. Insolvency and BankruptcyB. Roman timesC. Middle AgesD. Commercial Code of Napoleon and the Rise of General Bankruptcy LawE. Emerging Tendencies From HistoryF. Our Stance Today: Differences in National Legal Systems2. Prominent Principles of Domestic LawA. Widely Accepted Broad Principles of Insolvency Systems1. Maximization of Asset Value For All Creditors2. Recognizing/Preserving Existing Creditor Rights3. Equitable Treatment Of Similarly Situated CreditorsB. Wide Disparities With Respect to Specific Procedures and Rules1. (Un)Equal Treatment of Pre-Petition Claims2. Maximizing Value in a Common Pool3. Preparation and Voting on a Plan of ReorganizationC. Principles-Based Approaches to Modernization and Harmonization3. Guiding approaches to international insolvency lawA. The Basic Theoretical Divide: Territorialism v. Universalism1. Territorialism and Its Discontents2. Universalism and Market SymmetryB. Weighing the Advantages and Practical Impediments of the Competing Approaches1. Predictability and Prevention of Forum Shopping2. Upholding Legitimate Expectations: "Vested Interests"and Fairness3. Minimizing Losses and Transaction Costs, Maximizing ValueC. Alternatives1. Strengthening Universalism2. Cooperative Territorialism3. Mixing Universalism and Territorialism4. Choice of LawD. Modified Universalism4. Unilateral and Bilateral Forms of National CooperationA. Bilateral Treaties: From Medieval Origins to 19th and 20th Century ExpansionB. Anglo-American Unilateral Cooperation: Legislation and Case Law1. United Kingdom: Common Law Cooperation and the Limited Role of s 4262. United States: Early Resistance Gives Way To Statutory Cooperation, SC 3043. Ambiguous Results On Both Sides of the AtlanticC. Several Unilateral Regimes in Modern Europe1. Germany2. Spain3. Belgium4. France5. Italy6. The Netherlands7. Eastern European States5. Regional Cooperation and RegulationA. North America1. The Draft U.S.-Canada Bankruptcy Treaty2. The ALI "Principles of Cooperation Among the NAFTA Countries"B. The European Union1. Judicial Cooperation in Civil Matters2. Coordinated Universality as Basic Model3. International Jurisdiction4. Applicable Law5. Recognition of Insolvency Proceedings6. Secondary Insolvency Proceedings7. The Position of Creditors8. Reorganization and Winding-up of Financial Institutions9. ConclusionC. Other Regional Arrangements1. Latin America2. Northern Europe3. Central Africa4. Southeast Asia6. Convergence Through Legislation and Professional CooperationA. Harmonization Through LegislationB. Alignment By Courts and Practitioners1. The Model International Insolvency Cooperation Act2. Governance By Private Agreement: Cross-Border Insolvency Protocols3. The Cross-Border Insolvency Concordat and Recent Protocols4. Private Workouts and INSOL International's Statement of Principles7. Modeling Cross-border Insolvency: The Role of UNCITRALA. A Fair Framework for Effectively Addressing Cross-border Insolvency CasesB. The Model of the Model Law1. Limited Character2. Legislative Tool3. Practical Scope of the Model LawC. General Provisions1. Scope of Application2. Definitions3. Public Policy Exception4. InterpretationD. Access1. Unhindered Access2. Procedural Standing3. Position of Foreign CreditorsE. Recognition of Foreign Proceedings1. Recognition and Its Effects2. Application for Recognition3. Decision to Recognize a Foreign ProceedingF. Relief1. Purpose of Relief2. Provisional Relief3. Additional Relief4. Protection of InterestsG. Cross-border Cooperation and Communication1. International Practice2. Cooperation By Courts With Foreign Courts and Foreign Representatives3. Cooperation By Insolvency Office Holder With Foreign Courts and Foreign Representatives4. Means of CooperationH. Coordination of Concurrent Proceedings1. Model of Concurrent Proceedings2. Territorial Proceedings3. Coordination of Proceedings4. Hotchpot RuleI. The Structure of the Model Law1. Appreciation in Legal Doctrine2. Enacting a Model LawJ. Countries' Adoption of the Model Law1. Global Support2. Country by CountryK. ConclusionEpilogueAppendix: List of websites with freely downloadable international insolvency cooperation resource