An Empirical Study of the Implementation in the United States of the Model Law on Cross Border Insolvency

2012 ◽  
Author(s):  
Jay L. Westbrook
Keyword(s):  
United States ◽  
Empirical Study ◽  
The United States ◽  
Cross Border ◽  
Model Law

scholarly journals European and American Perspectives on the Choice of Law Regarding Cross-Border Insolvencies of Multinational Corporations – Suggestions for South Africa

2017 ◽  
Vol 15 (5) ◽  
pp. 133
Author(s):  
Jeanette Weideman ◽  
Leonie Stander
Keyword(s):  
United States ◽  
South Africa ◽  
International Trade ◽  
United States Of America ◽  
Multinational Enterprises ◽  
The United States ◽  
Valuable Insight ◽  
Cross Border ◽  
The World ◽  
Model Law

An increase in economic globalisation and international trade has amounted to an increase in the number of multinational enterprises that have debt, own assets and conduct business in various jurisdictions around the world.  This, coupled with the recent worldwide economic recession, has inevitably caused the increased occurrence of multinational financial default, also known as cross-border insolvency (CBI). The legal response to this trend has, inter alia, produced two important international instruments that were designed to address key issues associated with CBI. Firstly, the United Nations Commission on International Trade Law (UNCITRAL) adopted the UNCITRAL Model Law on Cross-Border Insolvency (the Model Law) in 1997, which has been adopted by nineteen countries including the United States of America and South Africa. Secondly, the European Union (EU) adopted the European Council Regulation on Insolvency Proceedings (EC Regulation) in 2000.  Both the EC Regulation and Chapter 15 adopt a “modified universalist” approach towards CBI matters. Europe and the United States of America are currently the world leaders in the area of CBI and the CBI legislation adopted and applied in these jurisdictions seems to be effective. As South Africa’s Cross-Border Insolvency Act is not yet effective, there is no local policy guidance available to insolvency practitioners with regard to the application of the Model Law. At the basis of this article is the view that an analysis of the European and American approaches to CBI matters will provide South African practitioners with valuable insight, knowledge and lessons that could be used to understand and apply the principles adopted and applied in terms of the EC Regulation and Chapter 15, specifically the COMI concept, the “establishment” concept in the case of integrated multinational enterprises and related aspects.  

scholarly journals Proving Chinese Law in the Courts of the United States

Amicus Curiae ◽  
2021 ◽  
Vol 2 (2) ◽  
pp. 188-215
Author(s):  
Richard K Wagner
Keyword(s):  
United States ◽  
English Language ◽  
The United States ◽  
Civil Procedure ◽  
Business Culture ◽  
Republic Of China ◽  
Chinese Law ◽  
Cross Border ◽  
Chinese Business ◽  
The Us

The volume of disputes heard by United States (US) courts containing a China element continues to be robust even against a backdrop of political rhetoric concerning an economic ‘de-coupling’ of the US and China. These cross-border disputes often involve Chinese parties and special issues, some of which concern Chinese business culture, but many of which involve interpreting questions of Chinese law. How is proving Chinese law accomplished in these cases and how have US courts performed in interpreting Chinese law? This article first discusses the approach to proving Chinese law in US courts. While expert testimony is often submitted and can be valuable to a US court, the applicable US rule offers no standards by which these opinions are to be judged. And, in the China context, without specific guidance, it can be challenging for a judge, unaccustomed with China or the Chinese legal system to determine which version of the law to believe. Moreover, under the applicable rule, the US court can simply ignore competing Chinese law opinions and conduct its own Chinese law legal research, presumably using English language sources. This can lead to interesting interpretations of Chinese law to say the least. The article anchors its discussion in an examination of those recent cases which have interpreted Article 277 of the Civil Procedure Law of the People’s Republic of China. This is the legal provision of Chinese law that can be implicated in certain situations involving cross-border discovery, and there are now numerous Article 277 cases among the reported US decisions. The article analyses Article 277 by placing it within the larger context of Chinese civil procedure and argues that the language used in the provision has a special meaning within Chinese evidence law that has been obscured in those US case decisions interpreting it, leading to erroneous results. The article concludes by offering judges and practitioners some suggestions for interpreting Chinese law in future US cases. Keywords: Chinese law; US courts; Article 277; deposition; cross-border discovery; Hague Evidence Convention; Chinese civil procedure.

scholarly journals Development of trade and economic cooperation between China and Russia in new geopolitical conditions

2019 ◽  
Vol 2 (51) ◽  
pp. 25-39
Author(s):  
A.V. Brizitskaya
Keyword(s):  
United States ◽  
Bilateral Trade ◽  
The United States ◽  
Agricultural Products ◽  
Political Life ◽  
Trade Relations ◽  
Cross Border ◽  
Modern Period ◽  
The World ◽  
Trade War

The article analyzes the trade relations between Russia and China in the modern period characterized by changes in the situation on the world stage and in the domestic political life of countries. The dynamics and commodity structure of bilateral trade of Russia and China have been studied, the Index of trade com-plementarity has been calculated, which showed that Chinese exports are more complementary to the structure of Russian imports than vice versa. Emphasis is placed on traditional trade in goods, excluding services and cross-border e-Commerce. The paper identifies two main directions which the development of Russian exports to China can take in the conditions of the "trade war" of China and the United States. The short-sighted policy of increasing only fuel and energy exports is justified. The reasons hindering the development of non-resource exports of Russia, primarily agricultural products and food, to China have been identified.

scholarly journals The Influence of Logistics Mode on Cross Border E-commerce Business Scale

2021 ◽  
Vol 235 ◽  
pp. 03006
Author(s):  
Xiaohui Hu
Keyword(s):  
United States ◽  
Regression Analysis ◽  
The United States ◽  
Intermodal Transportation ◽  
Road Transportation ◽  
Cross Border ◽  
Logistics Mode ◽  
Transportation Logistics ◽  
The Impact

China’s cross-border e-commerce companies are facing the problem of high logistics cost caused by excessive reliance on road transportation in domestic logistics link. In the long-term development, crossborder e-commerce companies in the United States have adopted the intermodal transportation logistics mode, which can reduced the domestic logistics costs. In order to study the impact of intermodal-transportation logistics mode on the scale of cross-border e-commerce companies, this paper selects the relevant data of Hub Group, the first intermodal marketing company in North America, makes multiple regression analysis, and draws the following conclusion: the intermodal-transportation logistics mode of highway and railway collaborative transportation is conducive to the expansion of cross-border e-commerce business scale.

Sold—to the Highest Bidder in Japan: Operational Challenges and Culture

2015 ◽  
pp. 1-5
Author(s):  
Gerry Yemen ◽  
Kristin J. Behfar ◽  
Allison Elias
Keyword(s):  
United States ◽  
The United States ◽  
Japanese Firm ◽  
Cultural Norms ◽  
Exit Strategy ◽  
Cross Border ◽  
Start Up ◽  
Financial Benefits ◽  
Operational Issues ◽  
The U.S

Most talented executives can recognize when an acquisition has strategic or financial benefits, and in this case, the decision to be acquired was an appropriate exit strategy for a successful start-up. Peter Street’s start-up had been growing quickly and was building a reputation for reliability in a booming industry when a Japanese firm offered to pay a premium for the U.S. firm. Having done business in Japan (and extensively with the acquiring company) before the sale of his company, Street entered the acquisition with enthusiasm. As part of the deal, Street’s former company would continue to operate in the United States as a division of its parent company and Street would remain as CEO. A few months into the transition, however, Street discovered a huge difference between working with and working for the Japanese firm. Cultural norms for confronting seemingly small problems quickly became bigger operational issues, and Street experienced a growing dichotomy between corporate (in Japan) and his division (in the United States). This case focuses on the challenges of implementing a cross-border acquisition.

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