Perfecting the Union, Perfecting Universalism
Corporate Rescue and Insolvency, Vol. 2, p. 71, 2009
6 Pages Posted: 21 May 2009
Date Written: May 20, 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.
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, K41
Suggested Citation: Suggested Citation