Breaking Away: Local Priorities and Global Assets
23 Pages Posted: 20 Oct 2015
Date Written: 2011
Abstract
Like an adolescent struggling with clothes that no longer fit, the growing field of international insolvency has not so far put aside the old notion that local priorities must always be applied in distributing local assets. Yet the great variation in the distribution rules from one nation to another means that application of local priorities creates a serious obstacle to multinational cooperation, puts both maximization and fairness at risk, and exacerbates the likelihood of forum stashing
Suggested Citation: Suggested Citation
Westbrook, Jay L., Breaking Away: Local Priorities and Global Assets (2011). Texas International Law Journal, Vol. 46, p. 601, 2011, U of Texas Law, Public Law Research Paper No. 542, Available at SSRN: https://ssrn.com/abstract=2351930
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