“The First Signs of Cross-Border Insolvencies” — Inna Vavilova’s Article in Delovoy Peterburg
"Recognition of a foreign insolvency proceeding enables to protect assets and business of the debtor for the benefit of the debtor and the debtor's creditors. Permissibility of cross-border insolvencies minimizes the ways of avoidance of the foreign insolvency law if an insolvency claim is filed outside the insolvency jurisdiction."