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Transaction Avoidance in Insolvencies$
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Rebecca Parry, James Ayliffe, Sharif Shivji, Hamish Anderson, and William Trower

Print publication date: 2018

Print ISBN-13: 9780198793403

Published to Oxford Scholarship Online: March 2021

DOI: 10.1093/oso/9780198793403.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 23 January 2022

Cross-Border Transaction Avoidance

Cross-Border Transaction Avoidance

Chapter:
(p.500) 21 Cross-Border Transaction Avoidance
Source:
Transaction Avoidance in Insolvencies
Author(s):

Rebecca Parry

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198793403.003.0026

Significant differences in format and underlying policies may be noted in transaction avoidance provisions worldwide; indeed varying avoidance provisions are only one aspect of the lack of uniformity in the world’s insolvency laws. These differences may assume great practical importance in the insolvencies of companies or individuals with dealings in more than one country. The insolvency laws of more than one jurisdiction may be invoked: for example, a company may be wound up in more than one country, or enter into concurrent rescue procedures, such as a British administration procedure and a US Chapter 11 procedure. In addition, litigation arising out of the insolvency proceedings may be pursued in more than one country. Recourse to the laws of an overseas jurisdiction may occasionally be had where the laws of the country in which the winding up is being conducted are inadequate to deal with the issues that have arisen.

Keywords:   applicable law, foreign transaction avoidance provisions, insolvency proceedings, insolvent estates, international insolvencies, procedural applicability, relevant UK insolvency procedures, territoriality, transactions defrauding creditors, universality

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