In his new book, professor Bork sets out to identify the fundamental principles which govern cross-border insolvency law. The central thesis of the book is that cross-border insolvency rules of all kinds (e.g. the European Insolvency Regulation, the UNCITRAL Model Law, national laws such as Chapter 15 US Bankruptcy Code) are founded on, and indeed can be traced back to, some basic principles. This thesis, if proven correct, can be helpful for both deciding cases and shaping cross-border insolvency law through the use of a principle-based approach.
A distinction is made in this respect between jurisdictional, procedural and substantive principles. Once these principles are identified, conflicts of principles are examined. The identification of guiding principles may also be useful for harmonization efforts. The book is published by Intersentia, and can be ordered here, as a late Christmas present. A presentation by professor Bork on this topic can also be consulted here.
Corporate Finance Lab 