Cross border insolvency sometimes called international insolvency regulates the treatment of financially distressed debtors where such debtors have assets or creditors in more than one country typically cross border insolvency is more concerned with the insolvency of companies that operate in more than one country rather than bankruptcy of individuals. This article outlines the challenges that arise in the context of cross border insolvency proceedings and the steps that have been taken towards achieving cross border co operation between jurisdictions in this regard it also examines the position under the law in mainland china the challenges. The model law is designed to assist states to equip their insolvency laws with a modern legal framework to more effectively address cross border insolvency proceedings concerning debtors experiencing severe financial distress or insolvency. The uncitral model law on cross border insolvency was a model law issued by the secretariat of uncitral on 30 may 1997 to assist states in relation to the regulation of corporate insolvency and financial distress involving companies which have assets or creditors in more than one state. The uks version of the model law is the cross border insolvency regulations 2006 the cbir a principal tenet of the model law is for each adopting country to recognize and cooperate with insolvency proceedings in a home country in videology the home country insolvency proceeding was the delaware chapter 11 proceeding
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