The protection of creditors in cross-border insolvency proceedings - International soft law, EU law and a comparative analysis of German and Australian law
(2025) HARN63 20251Department of Business Law
- Abstract
- This thesis examines creditor rights within cross-border insolvency proceedings through a comparative analysis of legal frameworks at the national, transnational, and international levels. As creditor rights are derived from the individual national laws applied in cross-border insolvency proceedings, the level of protection and recognition of creditor interests vary significantly across the different national laws. Using the Australian and German jurisdictions as focus jurisdictions, an assessment will be made to identify important variances in the rights available to creditors in applicable national laws. The impact of choice-of-law on the available creditor rights creates legal uncertainty and greater risks for creditors involved in... (More)
- This thesis examines creditor rights within cross-border insolvency proceedings through a comparative analysis of legal frameworks at the national, transnational, and international levels. As creditor rights are derived from the individual national laws applied in cross-border insolvency proceedings, the level of protection and recognition of creditor interests vary significantly across the different national laws. Using the Australian and German jurisdictions as focus jurisdictions, an assessment will be made to identify important variances in the rights available to creditors in applicable national laws. The impact of choice-of-law on the available creditor rights creates legal uncertainty and greater risks for creditors involved in international insolvency cases.
The literary review and research aim to review the current state of available creditor rights in cross-border insolvency and how the procedures in cross-border insolvency procedures can be improved to provide creditors with greater legal certainty and decreased levels of risk. The benefits for creditors surrounding improved cross-border insolvency creates benefits for the debtor involved in the proceedings, lowering the cost of capital and the costs typically associated with maintaining multiple insolvency proceedings across various jurisdictions. As a whole, the global capital market seeks to benefit from a harmonisation of insolvency laws as higher levels of legal certainty results in an increased investor confidence and greater access to credit. Overall, a more trusting capital market will lower the costs at all market levels, creating a benefit for both corporations and consumers. Legal scholars have published their concerns on the complex process of the administration of multinational corporations. They have identified two fundamental theories which categorise the approach taken by states with respect to recognising foreign cross-border insolvency proceedings. The German and Australian jurisdictions can be categorised within these two areas.
An assessment of the adequacy of current national, transnational, and international instruments in addressing the issues of cross-border insolvency proceedings will be compared to the proposed reforms put forward by the EU parliament. The implementation of UNCITRAL Model Law on Cross-border Insolvency and its effects on the adopting states will be measured through its ability to complement national laws and foster further international cooperation. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9195735
- author
- Porral, Angellene LU
- supervisor
- organization
- course
- HARN63 20251
- year
- 2025
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Cross-Border Insolvency, creditor rights, Choice-of-law, European jurisdiction, German jurisdiction, Australian jurisdiction, international harmonisation
- language
- English
- id
- 9195735
- date added to LUP
- 2025-06-10 11:18:24
- date last changed
- 2025-06-10 11:18:24
@misc{9195735,
abstract = {{This thesis examines creditor rights within cross-border insolvency proceedings through a comparative analysis of legal frameworks at the national, transnational, and international levels. As creditor rights are derived from the individual national laws applied in cross-border insolvency proceedings, the level of protection and recognition of creditor interests vary significantly across the different national laws. Using the Australian and German jurisdictions as focus jurisdictions, an assessment will be made to identify important variances in the rights available to creditors in applicable national laws. The impact of choice-of-law on the available creditor rights creates legal uncertainty and greater risks for creditors involved in international insolvency cases.
The literary review and research aim to review the current state of available creditor rights in cross-border insolvency and how the procedures in cross-border insolvency procedures can be improved to provide creditors with greater legal certainty and decreased levels of risk. The benefits for creditors surrounding improved cross-border insolvency creates benefits for the debtor involved in the proceedings, lowering the cost of capital and the costs typically associated with maintaining multiple insolvency proceedings across various jurisdictions. As a whole, the global capital market seeks to benefit from a harmonisation of insolvency laws as higher levels of legal certainty results in an increased investor confidence and greater access to credit. Overall, a more trusting capital market will lower the costs at all market levels, creating a benefit for both corporations and consumers. Legal scholars have published their concerns on the complex process of the administration of multinational corporations. They have identified two fundamental theories which categorise the approach taken by states with respect to recognising foreign cross-border insolvency proceedings. The German and Australian jurisdictions can be categorised within these two areas.
An assessment of the adequacy of current national, transnational, and international instruments in addressing the issues of cross-border insolvency proceedings will be compared to the proposed reforms put forward by the EU parliament. The implementation of UNCITRAL Model Law on Cross-border Insolvency and its effects on the adopting states will be measured through its ability to complement national laws and foster further international cooperation.}},
author = {{Porral, Angellene}},
language = {{eng}},
note = {{Student Paper}},
title = {{The protection of creditors in cross-border insolvency proceedings - International soft law, EU law and a comparative analysis of German and Australian law}},
year = {{2025}},
}