United States, Chapter 32

In last year’s edition of The International Insolvency Review, we discussed the tension between the ‘universalist’ and ‘territorialist’ approaches to cross-border insolvencies. Universalists believe that cross-border insolvencies should be governed by the laws of a single country to increase the efficiency and predictability of cross-border insolvencies, whereas territorialists dispute both the feasibility and purported benefit of a  unified approach and argue that adopting a  single ‘home’ jurisdiction for a  multinational corporation would inevitably lead to ‘forum shopping’.