Crossing the Line in Cross-Border Insolvencies

27 Am. Bankr. Inst. L. Rev. 17 (2019)

27 Pages Posted: 3 Apr 2019 Last revised: 20 Apr 2019

Date Written: July 20, 2018

Abstract

This paper explores misconduct by a foreign representative during a chapter 15 cross-border insolvency proceeding — and how courts should respond. The paper begins by discussing when a foreign representative's behavior may warrant judicial action. Then, after explaining how many potential sanctions (some tried and suggested by courts) are inappropriate, the paper proposes a novel solution.

If a foreign representative commits sufficient misconduct, the bankruptcy court should request the foreign court to replace the representative within 28 days. If the foreign court does not comply, the bankruptcy court should dismiss the chapter 15 proceeding. The paper also analyzes legal issues related to the solution's implementation, such as judicial authority, burden of proof, timing, and interim relief.

Keywords: bankruptcy, insolvency, chapter 15, cross border, international, foreign representative, misconduct, sanctions

Suggested Citation

Gordon, Jonathan C., Crossing the Line in Cross-Border Insolvencies (July 20, 2018). 27 Am. Bankr. Inst. L. Rev. 17 (2019), Available at SSRN: https://ssrn.com/abstract=3344796

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
91
Abstract Views
432
rank
315,627
PlumX Metrics