Special Report on
Cross Border Insolvency Law
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No, not Lehman. Though much smaller in monetary terms (probably), a filing by BP would likely be the biggest international insolvency case in engaging the U.S. public interest, and probably its ire. And what of a BP filing in its jurisdiction of registry? A BP filing in the U.K. seems sure to create a cross-the-Pond furor not seen since the late 1700s, or so this BusinessWeek article suggests . One line from that article particularly intrigued me: "No doubt London courts would deliver an outcome more favorable to BP. And they’re apt to be less generous when it comes to paying ...
Cross Border Insolvency Law - Trends
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Everything Matters: Current Trends in Insolvency Law
Involuntary filings under Section 303 of the United States Bankruptcy Code (the Code) by creditors trying to force foreign corporate debtors into US bankruptcy proceedings have correspondingly increased. 1 Often, these involuntary filings occur when foreign insolvency proceedings are pending, and the court may thus need to decide whether it can exercise jurisdiction. Thus, courts are required to determine whether to abstain from exercising jurisdiction over an involuntary petition, either by suspension or dismissal, and cede jurisdiction to a foreign court of insolvency pursuant to section 305(a)(1) of the Code. 2 Section ...
Wikipedia
(Article 1, Section 8, Clause 4) which authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States." Congress has exercised this authority several times since 1801, most recently by adopting the Bankruptcy Reform Act of 1978 , codified in Title 11 of the United States Code , commonly referred to as the Bankruptcy Code ("Code"). The Code has been amended several times since 1978, most recently in 2005 through the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 or BAPCPA . Some law relevant to bankruptcy is found in other parts of the United States ...
FEATURED BLOG
The South Bay Law Firm Law Blog highlights developing trends in bankruptcy law and practice. Our aim is to provide general commentary on this evolving practice specialty. A great deal of scholarly ink has been spilled over last year’s well-publicized sales of Chrysler and GM, each authorized outside a Chapter 11 plan. Some of that ink is available for review . . . . It’s worth noting that both Chrysler and GM have enjoyed a considerable presence in Canada. Indeed, the Canadian government participated in the automakers’ Chapter 11 cases. Yet their bankruptcy sales ... Read More
RECOMMENDED BOOKS
REVIEWS AND OPINIONS
Bob Wessels (1949) is a Dutch legal counsel, since September 2007 Professor of International Insolvency Law, Leiden University (one day a week). Professor of Civil and Commercial Law, Vrije University Amsterdam (1988-februari 2008). Since 1987 Deputy Justice at the Court of Appeal, The Hague. Publications Author of Wessels, “ Insolventierecht ” (Insolvency Law), a 10 Volume series, which has been published between 1999 – 2003, by Kluwer, The Netherlands. Since 2006 six volumes have been published in a second edition. A selection of English language publications is published in: - Bob Wessels, Business and ...
market research, surveys and trends
Gregory S. Abrams, Joseph L. Steinfeld Jr., and Joseph A. Hess, PROSECUTING PREFERENCE ACTIONS POST-BAPCPA: ANOTHER VIEW TOWARD A RELIABLE STATISTICAL MODEL, 25-JAN Am. Bankr. Inst. J. 54 *** C.R. "Chip" Bowles Jr., ETHICAL ISSUES IN REPRESENTING DEBTORS IN INDIVIDUAL CHAPTER 11S UNDER BAPCPA: PART 1, 25-JAN Am. Bankr. Inst. J. 46 *** Charles A. Cipione and Michael C. Han, DATA ON WHICH TO STAKE YOUR CLAIM: A Guide to Information Management for Debtors, Restructuring Professionals, 25-JAN Am. Bankr. Inst. J. 40 *** Karen Cordry, TAXES AND BAPCPA--NOT SUCH A BAD EFFORT?, 25-JAN Am. Bankr. Inst. J. 12 *** Dallas M. (Mike) Darland ...
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SURVEY RESULTS FOR
CROSS BORDER INSOLVENCY LAW
11 See further, Rosalind Mason, 'Cross-Border Insolvency Law: Where ... the Funds' assets were in the United States — at least 90 percent of the. Funds' approximately $500 million of assets were located in accounts in the United States. ...
industry trends, business articles and survey research
more than 1.4 million—setting a ten-year record.36 The worst may not be over; a recent poll found that ninety-three percent of American Bankruptcy ..... cross- border insolvency law. See John A. Barret, Various Legislative Attempts with ...
industry trends, business articles and survey research
RELATED NEWS
The Greek Parliament is shortly due to adopt the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency. This will make Greece one of several EU member states to have amended national insolvency rules in line with the model rules, thereby creating a set of rules that will complement the provisions of the EU Insolvency Regulation (1346/2000/EC). The adoption of the model law is unlikely to have significant practical consequences, as there have been relatively few international insolvency proceedings affecting Greece, and there have been only two published decisions on the EU ...
market trends, news research and surveys resources
A special system should be set up to ensure that crises are resolved earlier and to avoid rushed, weekend bank bailouts costing the taxpayer hundreds of billions of euros, says the European Parliament in a resolution passed on Wednesday. The growing size, complexity and interconnectedness of banks means that such a system must be established at European level. In the resolution, drafted by Elisa Ferreira (EPP, PT) and adopted by a show of hands, MEPs urge the European Commission to submit by the end of the year one or more draft laws relating to the management of cross-border crises in the banking sector. In particular they call ...
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INFORMATION RESOURCES
Important development in cross-border insolvency law. In an important judgment delivered on. 16 May 2006, the Privy Council has extended ...
technology research, surveys study and trend statistics
Welcome to the Private International Law site, maintained by the Office of the Assistant Legal Adviser for Private International Law (L/PIL) at the U.S. Department of State. L/PIL is responsible for the negotiation and conclusion of international conventions, model laws and rules, legislative guides, and other instruments governing private transactions that cross international borders. For Current Developments, see below . This website is intended to provide a convenient location to find information regarding private international law in areas such as trade, finance and banking; judicial assistance; arbitration and judgments; ...
technology research, surveys study and trend statistics
Guide to Enactment of the UNCITRAL Model Law on Cross-Border Insolvency, ... sei seibi e [Towards Completion of the Cross-border Insolvency Law System], ...
REAL TIME
CROSS BORDER INSOLVENCY LAW
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Adoption of UNCITRAL Model Law on Cross-Border Insolvency http://bit.ly/aqQmZo
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QUESTIONS AND ANSWERS
How and to what extent does CAFTA (or a similar FTA) encourage cross-border investment in infrastructure enhancements for emerging economies? What other Political Risk factors should be considered when modeling a cross-border infrastructure investment? If you wish to connect, I will accept your invitation. posted October 29, 2008 in Treaties, Agreements and Organizations | Closed Share This Market development Associate at Energime Sustainable Technologies, LLC see all my answers Best Answers in: Exporting/Importing (7), Customs, Tariffs and Taxes (1), Business Development (1), Lead Generation (1) In general, political risk ...
A proper answer to this question requires a book. Anyway, let's start from the beginning. The largest part of blame for this war goes to Jozif Vissarionovic Dzhugashvili (a.k.a. Stalin). No kidding. He was Georgian, and he knew all too well the situation in the Caucasus. In order to keep the Soviet Republics inherently weak, he designed their boundaries to include bits and pieces of other populations within their borders. This machiavelli-like move created ethnic tensions that kept those Republics politically weak, allowing Moscow to hold a firm grasp on them. When Georgia declared its independence in 1991 (does anyone else ...
