Introduction to International Bankruptcy
Bankruptcy and insolvency laws are essential components of a market economy, because they enable entrepreneurs to take business risks, and provide a mechanism for treating creditors and other parties fairly in the event that a venture fails. As cross-border business activity has increased, so has the need to deal with cross-border business failures. This course surveys some of the issues that may arise when an enterprise that has operations, assets, employees, and creditors in more than one country becomes financially distressed. We will compare the US and Chinese approaches to rescuing businesses, and discuss how Chapter 15 of the US Bankruptcy Code and similar statutes deal with cross-border bankruptcy cases. There are no prerequisites for this course. The course is designed so that students who have not previously studied bankruptcy law will be able to understand and master the material.