S. International Insolvency Law

Increasingly, as businesses operate globally, financial distress of companies is not confined to one or even a few countries. In the last decade, foreign insolvency laws have been modified to provide restructuring alternatives to liquidation. Courts in the U.S. and elsewhere are increasingly asked to cooperate and to recognize and enforce the results in proceedings in different countries. During 4 of 13 weeks of the semester, we will study Chapter 15 of the U.S. Bankruptcy Code (“Ancillary and Other Cross-Border Cases”), which is based on the UNCITRAL Model Law on Cross-Border Insolvency, focusing on recognition and enforcement in the U.S. of foreign insolvency proceedings, and during 9 weeks, we will study the insolvency laws (or, in some cases, corporate law) of foreign countries (with the focus on restructuring of financially distressed companies), including, among others : Brazil, Canada, The Cayman Islands, European Union, Hong Kong, India, Netherlands, Singapore, United Kingdom.