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

Abstract

(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

Ho, Look Chan, Perfecting the Union, Perfecting Universalism (May 20, 2009). Corporate Rescue and Insolvency, Vol. 2, p. 71, 2009, Available at SSRN: https://ssrn.com/abstract=1407721

Look Chan Ho (Contact Author)

Des Voeux Chambers ( email )

38/F Gloucester Tower
The Landmark
Central
Hong Kong
+852 2526 3071 (Phone)
+852 2810 5287 (Fax)

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