Title

United States, Chapter 32

Created date

10/1/2014

The International Insolvency Review, Second Edition, Law Business Research Ltd., 2014

 

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’.