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Cross-Border Developments in Insolvency.
The rapid growth in economic globalization has created new issues for creditors, debtors, insolvency professionals and the bankruptcy court. Less than a dozen years ago, it was unusual to find reorganizations or insolvencies that had significant international connections. Today, it is unusual to find a major case that does not have international aspects, and this trend is certain to accelerate.
In today's new economy, debtors restructuring their companies may have foreign assets and/or foreign subsidiaries and/or a foreign parent. Hence, cooperation amongst foreign courts is required in order to ensure the sanctity of the process.
The coordination of the ...
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Source: HighBeam Research, Cross-Border Developments in Insolvency.