The Recognition of Cross-Border Insolvencies and Practices — the article of Tatiana Tershchenko and Alexander Sergeev in Czech Yearbook of International Law

Globalization has spurred an active movement of capital across borders and the expansion of commercial traffic at an international level. One consequence of such activity is the inevitable associated risks of insolvency and bankruptcy that are becoming international. Moreover, the global trend is that the initiation of these proceedings are often directed not so much at the liquidation of the debtor assets and their distribution among the creditors, but with the preservation, rehabilitation and restoration of the business.

The article analyzes the key approaches of universalism and territorialism and the different modes recognition of which each is based.

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