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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 which operate in more than one country rather than the bankruptcy of individuals. Like traditional conflict of laws rules, cross-border insolvency focuses upon three areas: choice of law rules, jurisdiction rules and enforcement of judgment rules. However, in relation to insolvency, the principal focus tends to be the recognition of foreign insolvency officials and their powers. ==Theories of cross-border insolvency== There are broadly three theories in relation to the administration of cross-border insolvency: * The territorial approach, whereby each country exercises its own domestic insolvency laws in relation to all of the debtor's property and all of the creditors which are located within its jurisdiction. This approach does not recognise any extra-territorial dimension to insolvency law. * The universalist approach (or ''universal approach''), whereby any cross-border insolvencies would be administered pursuant to a single global insolvency regime, and all of the debtor's assets are distributed by a single insolvency office holder regardless where the assets or claimants are located. * Hybrid approach. A number of hybrid approaches exist in theory or practice, including: * * Modified universalism, whereby individual countries seek to identify the most relevant jurisdiction in which to conduct the proceedings, and all other states will cooperate with and facilitate such proceedings (subject to limits of public policy); or * * Co-operative territorialism, which is broadly predicated on territorialist approach supplemented by multi-lateral conventions. It is generally recognised that the universalist approach remains largely a holistic ideal, and for the most part countries of the world are divided into those which take a purely territorial approach, and those which apply some form of hybrid approach. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Cross-border insolvency」の詳細全文を読む スポンサード リンク
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