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Fear Of Commitment In International Bankruptcy, Frederick Tung
Fear Of Commitment In International Bankruptcy, Frederick Tung
Faculty Scholarship
This article discusses the difficult questions of conflict and cooperation among national bankruptcy regimes that arise with the failure of a multinational firm. The firm's failure typically leaves assets and unpaid creditors in several jurisdictions, but no overarching international bankruptcy system exists. Instead, the national bankruptcy laws of several states might plausibly apply to the firm's bankruptcy or particular aspects of the case. Though multinational firm failure has become more and more common, states have made precious little progress in regularizing coordination or cooperation among national bankruptcy systems. Uncoordinated territorial competition is the norm, resulting in complex conflicts of law. …
Conflicts Empiricism, Gene R. Shreve