A New Role for Secondary Proceedings in International Bankruptcies
University of Michigan Law School
August 1, 2011
Texas International Law Journal, Vol. 46, 2011
U of Michigan Law & Econ, Empirical Legal Studies Center Paper No. 11-012
U of Michigan Public Law Working Paper No. 244
Secondary proceedings – the ugly stepsisters to main proceedings – get short shrift in international bankruptcy scholarship. This article seeks to remedy that deficiency. First, it describes what it argues are the traditional conceptions – both stated and implicit – of secondary proceedings in cross-border insolvencies. Second, it offers a revised way of thinking about secondary proceedings, proposing to restrict their scope through the use of “synthetic” hearings. Third, it addresses some problems with the proposed new role of secondary proceedings and sketches a possible solution involving the creation of an international priorities registry.
Number of Pages in PDF File: 22
Keywords: international bankruptcy, corporate bankruptcy
JEL Classification: F30Accepted Paper Series
Date posted: August 10, 2011
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