The UK Cross-Border Insolvency Regulations 2006 (CBIR) permits discretionary relief in the form of applying foreign insolvency law. There is no convincing common-law objection to the application of foreign law.The ability to apply foreign law pursuant to the CBIR is consistent with Chapter 15 of...

This article argues that the enforcement in England in Re New Cap Reinsurance Corporation of an Australian monetary judgment rendered under Australian insolvency law does not sit easily with the Foreign Judgments (Reciprocal Enforcement) Act 1933. This is because the Foreign Judgments...

In explaining the concept of centre of main interests (COMI) within the UK Cross-Border Insolvency Regulations 2006 (CBIR), the Englush court in Re Stanford International Bank over-emphasised third-party ascertainability due to an apparent lack of appreciation of the different functions...

The proliferation of rules aimed at the management of cross-border insolvencies has not been coupled with sufficient attention to the choice of law rules relating to the avoidance of antecedent transactions as legal acts detrimental to all the creditors. This article is the first of its kind in...

Recent credit difficulties have revealed the potential inadequacies of UK insolvency regimes applicable to credit institutions, prompting the UK regulatory authorities to consult on the possibility of insolvency reform. This article discusses the recent credit crisis, considers the US bank...

This essay discusses why the increase in high-profile, high-fees chapter 11 bankruptcy cases creates some real public relations problems for bankruptcy professionals and what those professionals might do to avert a backlash in the media and in the public opinion of lawyers

This paper, which was written as a White Paper for the Federalist Society, describes and assesses the question whether public employee pensions can be restructured in bankruptcy, with a particular focus on Detroit. Part I gives a brief overview both of the treatment of pensions under state law,...

Since 1978, dismissals of involuntary bankruptcy petitions due to petitioning creditors' bad faith have proliferated. In the process, a textual oddity has not gone unnoticed: even as “bad faith” is denominated as the basis for an award of punitive damages, nowhere in the Bankruptcy Code's...

For more than two decades, a debate has raged over what to make of vindicatory contempts, a class of ostensibly civil contempt orders intended to punish a debtor for his or her defiance of prior judicial orders issued pre-petition by a state court. Because § 362(a)(1) applies to all judicial...

Modern Chapter 9 litigation has been characterized by extraordinary protections for municipal bondholders, and Central Falls is no exception. Although not well understood by politicians, fear of contagion has encouraged the adoption of legal arrangements that have limited the bankruptcy courts'...