LAW5626 International and comparative insolvency law

This course will cover the basics of bankruptcy/insolvency law and the general rights of creditors and debtors in various Western nations, i.e. from an international perspective. The course will focus on the core aspects of commercial bankruptcy/insolvency statutes in these countries.

It begins with a review of the key insolvency concepts and provisions set forth by the United Nations Commission on International Trade Law ("UNCITRAL") with primary emphasis on Part Two of the UNCITRAL Guide On Insolvency Law, entitled "core provisions for an effective and efficient insolvency law", including and highlighting its suggested provisions for reorganizations. It will then address the insolvency statutes of the US and selected European regimes. Finally, the course will compare the various statutory provisions in these nations together with their adoption, or not, of the UNCITRAL recommended terms and the effect thereof.