Insolvency |
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Processes |
Officials |
Claimants |
Restructuring |
Avoidance regimes |
Offences |
Security |
International |
By country |
Other |
Cross-border insolvency (sometimes called international insolvency) regulates the treatment of financially distressed debtors where such debtors have assets or creditors in more than one country.[1] Typically, cross-border insolvency is more concerned with the insolvency of companies that operate in more than one country rather than bankruptcy of individuals. Like traditional conflict of laws rules, cross-border insolvency focuses upon three areas: choice of law rules, jurisdiction rules and enforcement of judgment rules.[2] However, in relation to insolvency, the principal focus tends to be the recognition of foreign insolvency officials and their powers.