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Cross-Border Insolvencies: To “Universalize” Or To Arbitrate?, Young Hye (Martina) Chun
Cross-Border Insolvencies: To “Universalize” Or To Arbitrate?, Young Hye (Martina) Chun
Pepperdine Dispute Resolution Law Journal
This note makes a cost-benefit analysis of the U.S. Bankruptcy Code Chapter 15 and International Commercial Arbitration in the context of cross-border bankruptcy proceedings. Part I sets the stage by providing two opposing theoretical approaches to cross-border insolvencies: territorialism and universalism. Part II introduces the UNCITRAL’s Model Law on Cross-Border Insolvency, which is incorporated into the U.S. Bankruptcy Code Chapter 15. It presents how the Model Law has attempted to compensate for the lack of a global court by incorporating universalism. Part III demonstrates that while Chapter 15 sounds good in theory, it fails to address the very issue it …
The Need For Implementation Of A Consolidation Provision In Institutional Arbitration Rules, Ioannis Giakoumelos
The Need For Implementation Of A Consolidation Provision In Institutional Arbitration Rules, Ioannis Giakoumelos
Pepperdine Dispute Resolution Law Journal
This article deals with the question whether arbitration institutions should introduce a consolidation provision in their respective rules, and if so, under what conditions consolidation should be ordered. It stresses the general advantages and potential disadvantages which consolidation may have. It further investigates whether the parties’ interests regarding consolidation are sufficiently respected in the absence of an express consolidation rule. In this regard, it argues that interpretation of arbitration agreements can have a detrimental outcome, and therefore, the introduction of a consolidation provision in institutional rules is recommended. The article goes on to compare various consolidation provisions of different arbitration …