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With the growth of international business and the rise of companies with subsidiaries around the world, the question of where a company should file bankruptcy proceedings has become increasingly complicated. Today, most businesses are likely to have international trading partners, or to operate and hold assets in more than one country. To execute a corporate restructuring or liquidation under several different insolvency regimes at once is an enormous and expensive challenge. With International Bankruptcy, Jodie Adams Kirshner explores the issues involved in determining which courts should have jurisdiction and which laws should apply in addressing problems within. Kirshner brings together theory with the discussion of specific cases and legal developments to explore this developing area of law. Looking at the key issues that arise in cross-border proceedings, International Bankruptcy offers a guide to this legal environment. In addition, she explores how globalization has encouraged the creation of new legal practices that bypass national legal systems, such as the European Insolvency Framework and the Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law. The traditional comparative law framework misses the nuances of these dynamics. Ultimately, Kirshner draws both positive and negative lessons about regulatory coordination in the hope of finding cleaner and more productive paths to wind down or rehabilitate failing international companies.
|Publisher:||University of Chicago Press|
|Edition description:||New Edition|
|Product dimensions:||6.00(w) x 9.00(h) x 0.90(d)|
About the Author
Jodie Adams Kirshner is research professor at New York University and a lecturer in international bankruptcy law at Columbia University Law School. She has also served as a technical advisor to the Bank for International Settlements and worked as an independent consultant for financial funds investing in distressed debt.
Table of ContentsAcknowledgments Introduction: Why a Book on International Bankruptcy Law? 1 Why Have So Many Bankruptcies Crossed Borders? 2 What Problems Have the Cross-Border Developments Caused? 3 What Questions Must the Law Answer in Cross-Border Bankruptcies? 4 What Have Efforts to Harmonize Answers Accomplished? 5 In the Absence of More Harmonization, What Other Developments Have Taken Place?
Conclusion: Where Do We Go from Here? Notes Index