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A universalist approach

"The line of authorities that has led to Rubin in the Court of Appeal are consistent in their approval of a ’universalist’ approach to cross-border insolvencies. Universalism reacts against the current position, which can lead to each jurisdiction in which an insolvent debtor’s assets are situated dealing with those assets and the local creditors in accordance with local rules. This leads to inevitable inconsistencies between the pay-out of a creditor in Country A as against a creditor in Country B." But Rubin isn't about the treatment of creditors in different countries though, is it? Isn't it about the position of debtors...?

21-May-2012

4:55 pm