Perfecting the Union, Perfecting Universalism
Look Chan Ho
Freshfields Bruckhaus Deringer LLP; The World Bank
May 20, 2009
Corporate Rescue and Insolvency, Vol. 2, p. 71, 2009
(i) Council Regulation (EC) 1346/2000 on insolvency proceedings (‘EU Insolvency Regulation’) was based on the model of modified universalism, but its current practice militates towards pure universalism.
(ii) Universalism coupled with the policy of ensuring the proper functioning of the EU internal market may lead to interpretative conclusions that depart substantially from legislative words.
(iii) The policy of preventing forum shopping by concentrating all insolvency-related actions in one jurisdiction might simply encourage a ‘front-end’ shopping for insolvency forum.
Number of Pages in PDF File: 6
Keywords: EU Insolvency Regulation, cross-border insolvency, universalism, forum shopping, setting aside antecedent transactions, recognition of insolvency judgments
JEL Classification: K10, K19, K20, K22, K29, K30, K39, K40, K41Accepted Paper Series
Date posted: May 21, 2009
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