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International Insolvency Case Venue In The European Union: The Parmalat And Daisytek Controversies, Samuel Bufford
International Insolvency Case Venue In The European Union: The Parmalat And Daisytek Controversies, Samuel Bufford
Hon. Samuel L. Bufford
The European Union Insolvency Regulation (the EU Regulation) is a giant step forward in promoting international cooperation among EU countries for cross-border insolvency proceedings. It adopts a modified universalist solution to cross-border proceedings insofar as they are located within the EU. However, experience has shown that it needs improvement to work effectively. A venue battle now rages between courts of several European countries over which country's courts will administer particular cross-border proceedings and how the center of main interest is to be determined for this purpose. This Article begins with a detailed examination of the two principal cases where conflicts …
Global Venue Controls Are Coming: A Reply To Professor Lopucki, Samuel Bufford
Global Venue Controls Are Coming: A Reply To Professor Lopucki, Samuel Bufford
Hon. Samuel L. Bufford
This Article details my disagreements with Professor Lynn LoPucki's article "Global and out of Control" (79 Am. Bankr. L.J. 79). Part I discusses universalism and territorialism, especially the modified version of universalism that I support. Part II examines the international venue provisions of the Model Law and the EU Regulation. Part III introduces the relevant venue shopping cases. Only two groups of cases are relevant for the purpose of this paper: the French and German subsidiaries of Daisytek and Eurofood (a subsidiary of Parmalat SpA, the Italian conglomerate). None of the other cases that Professor LoPucki discusses was subject to …