The extraterritoriality of the Bankruptcy Code: will the borders contain the code?

Article Abstract:

The Bankruptcy Code should be applied extraterritorially, since the presumption against extraterritoriality is defeated according to the traditional test. The district court in Maxwell Communication Corp. v. Barclays Bank has held instead that section 547 of the Bankruptcy Code does not apply extraterritorially. That decision threatens to heighten the presumption against extraterritorial application to too great an extent, rather than using comity analysis and a rule of reason approach.

Bankruptcy Law, Other Justice, Public Order, and Safety Activities, United States, Laws, regulations and rules, Exterritoriality, Extraterritoriality, international

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Use of United States bankruptcy law in multinational insolvencies: the Axona litigation - issues, tactics, and implications for the future

Article Abstract:

The decision of In re Axona International Credit and Commerce Ltd will apply to future insolvencies which are both international and invoking of US laws. However, precise interpretations in the future are unclear since there is no international agreement on equal treatment of creditors. In Axona, Hong Kong Liquidators yielded control of US assets and spent time recovering extra assets under US bankruptcy laws.

Interpretation and construction

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The new European law on international insolvencies: a German perspective

Article Abstract:

The author discusses a law adopted by the European Union in 2000 regulating cross-boarder insolvencies. Topics include the advantages of universality, jurisdiction to open insolvency proceedings, choice-of-law rules applicable to such proceedings, and secondary proceedings.

Germany, European Union, Management, Civil procedure (International law)

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