Smoothing Cross-Border Insolvency by Synchronising the UNCITRAL Model Law: In re Samsun Logix Corporation

Butterworths Journal of International Banking and Financial Law, Vol. 24, p. 395, 2009

6 Pages Posted: 21 Jul 2009

Date Written: July 19, 2009

Abstract

In the Samsun case, there has been a uniform recognition of a Korean rehabilitation proceeding as a foreign main proceeding under the UNCITRAL Model Law on Cross-Border Insolvency in the UK, US and Australia. These jurisdictions have also granted a uniform stay on enforcement of security interests in order to promote the purpose of the Korean rehabilitation. The case is concrete testament to the potential of the Model Law in managing transnational insolvencies.

Keywords: UNCITRAL Model Law on Cross-Border Insolvency, Korean rehabilitation proceeding, recognition of Korean insolvency proceeding

JEL Classification: K10, K19, K20, K29, K30, K39, K40, K41, K49

Suggested Citation

Ho, Look Chan, Smoothing Cross-Border Insolvency by Synchronising the UNCITRAL Model Law: In re Samsun Logix Corporation (July 19, 2009). Butterworths Journal of International Banking and Financial Law, Vol. 24, p. 395, 2009, Available at SSRN: https://ssrn.com/abstract=1436146

Look Chan Ho (Contact Author)

Des Voeux Chambers ( email )

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