An Australasian Model for Cross-Border Insolvency?

Cross-border insolvency has been an intractable and growing problem given increasing trade globalisation. When creditors and debtors are located in different jurisdictions, the problems of coordination are compounded by differences in legal systems, substantive laws, and private international law approaches in the domestic jurisdiction. Some states may be more receptive than others to recognition of foreign creditors and insolvency representatives. Most, at the very least, will wish to protect local priority creditors, revenue claims and other aspects of public policy