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INTERNATIONAL COPORATE LIQUIDATION
- Essay length: 4460 words
- Submitted: 23/07/2009
The first 200 words of this essay...
"The nature and scale of business today mean that it is increasingly likely that English companies will enter into transactions with foreign companies and vice versa. This trade may be of great benefit to the companies involved, but the international element to such business may cause enormous problems when one of the companies becomes insolvent. Several jurisdictions may have the right to wind up the companies if, for example, the company had branch offices or carried on business in a number of different states. Therefore the often Herculean task of winding up a company where there are cross border implications is complex, even where English judges are willing to cooperate with foreign liquidators".
Dr Kate Dawson (2001 Receivers Administrators and Liquidators Quarterly p 345)
Describe and consider the ways in which the Insolvency Act 1986 and the EC Regulation o Insolvency Proceedings 200 provide means of cooperation between English and other jurisdictions in Insolvency Proceedings involving cross border problems.
Cooperation in insolvency proceedings has greatly benefited from the insolvency discipline and this has contributed to the development of practices and procedures that allow international insolvency and restructuring proceedings to be coordinated and harmonised. This is more
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