COMPARATIVE ANALYSIS OF CROSS BORDER INSOLVENCY

Registration ID: IJNRD_305225

Published ID: IJNRD2504125

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A Vanathi

Cross-Border Insolvency, UNCITRAL Model Law, Universalism, Territorialism, Judicial Cooperation, Insolvency Framework, International Best Practices, Comparative Analysis, Creditor Protection, Legal Harmonization.

Cross-border insolvency is increasingly an issue of priority in a globalized world as companies prefer to conduct business in several jurisdictions. The question remains how to harmonize the interest of creditors, debtors, and other interested parties sufficiently so that consistency and predictability may be achieved in insolvency procedures. This dissertation discusses critically the law of cross-border insolvency particularly in the context of India, the United Kingdom, the United States, and relevant international materials like the UNCITRAL Model Law on Cross-Border Insolvency. The research proves the intricacies and difficulties in harmonizing worldwide standards with local law. The research also identifies the reasons for the lack of comprehensive legislation in India resulting in inconsistency in recognition and enforcement of foreign insolvency proceedings. Through comparative analysis, the dissertation discovers the critical lacunae in the Indian insolvency regime and compares them to the tested and proven frameworks of the UK and the USA. In addition, the dissertation delves into serious issues like the doctrine of universalism over territoriality, cooperation among judges, and efficiency of the UNCITRAL Model Law for the facilitation of transnational insolvency cooperation. The research also considers recent judicial rulings and legislative reforms bearing relevance to cross-border insolvency cases. In light of the comparative study, the dissertation makes practical suggestions for improvement of India's cross-border insolvency regime. The suggestions include accepting the best global practices, enhancing judicial cooperation, and putting through extensive legislative reforms so that higher predictability and efficiency are achieved. By filling the gap in the body of knowledge, the study seeks to bridge the gap between theory and practice and help solve the practical problems of parties in cross-border insolvency matters.

Published Paper   E-Certificate

A Vanathi (April-2025). COMPARATIVE ANALYSIS OF CROSS BORDER INSOLVENCY. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 10(4), b39-b76. https://ijnrd.org/papers/IJNRD2504125.pdf

Volume 10 Issue 4, April-2025

Pages : b39-b76

Paper Reg. ID: IJNRD_305225

Published Paper Id: IJNRD2504125

Downloads: 000122010

Research Area: Science and Technology

Author Type: Indian Author

Country: -, -, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2504125.pdf

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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

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