“The collapse or distress of international businesses can affect multiple stakeholders, including banks, trade creditors, employees, shareholders, and even entire economies. Conflict between laws, duplication of processes, lack of cooperation between courts or insolvency professionals and the disintegration of the failed business’s administration exacerbate the damage. The United Nations Commission on International Trade Law (UNCITRAL) has, over the years, developed mechanisms to promote greater harmonization and fair and efficient cross-border insolvencies …” (more)
[Irit Mevorach, Oxford Business Law Blog, 4 December]
First posted 2020-12-05 14:25:54
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