The course will be devoted to the analysis of the rules of the European Union and of some non-EU countries, in particular the U.S., for cross-border insolvency cases.
- Acquiring a foundational knowledge and understanding of the fundamental legal institutions of international insolvency law; - Capability to apply the acquired knowledge and understanding to real cases; - Making autonomous judgments on the phenomena and problems of cross-border insolvency law and their practical consequences; - Communication skills, including arguing convincingly about one's own solution to a given subject matter with logical and legal thoroughness and propriety of language; - Capability to learn, meaning due consideration of the historical and evolutionary characters of international insolvency law.
International insolvency has acquired an increasing economic importance over the last years, as a consequence of the development of international commerce and the globalisation of economic relationships. Among the most significant cross-border bankruptcy cases, one can cite Parmalat, Budget Rent-a-Car, Swiss, Sabena, Lehman Brothers and Alitalia. In this situation, while the relevant procedural and substantive rules are still contained in national legislation of the different States involved, a coordination among these national legal orders is needed in order to ensure an efficient conduct of the insolvency proceedings in order to maximize the result for all stakeholders. In the European Union, such coordination has been pursued through the rules contained in Regulation No 1346/2000, governing in particular the issues of jurisdiction, applicable law and the recognition of foreign decisions. This regulation has been recently recast in Regulation No 2015/848, that has introduced new provisions concerning pre-insolvency proceedings, the cooperation among courts and a new recovery plan for groups of companies. At a different level, an important instrument of coordination is contained in the UNCITRAL model law on cross-border insolvency. Along the course, after an introduction on the key topics, the analysis will be conducted through the examination of selected case law. Students will be encouraged to actively participate to the course through presentations of short reports on specific topics and discussions of practical cases.
Prerequisiti e modalità di esame
The evaluation will form the object of a final oral exam and will also take into account the active participation of the students to the classes (including written and oral reports and the discussion of practical cases).
The attendance to the course is compulsory.
Materiale didattico e bibliografia
EC Regulation No 1346/2000 on insolvency proceedings, at http://eur-lex.europa.eu/ Regulation (EU) No 2015/848 on insolvency proceedings (recast), at http://eur-lex.europa.eu/ UNCITRAL Model Law on Cross-Border Insolvency, at http://www.uncitral.org S. Bariatti, Recent Developments and Case-Law Concerning Jurisdiction and the Recognition of Judgments under the European Insolvency Regulation, in Rabels Zeitschrift für ausländisches und internationales Privatrecht, 2009, pp. 629-659 G. Moss, I. Fletcher, S. Isaacs, The EC Regulation on Insolvency Proceedings. A Commentary and Annotated Guide, 2nd ed., Oxford, 2009. B. Wessels, B.A. Markell, J.J. Kilborn, International Cooperation in Bankruptcy and Insolvency Matters, New York, 2009. Selected articles and commentaries to the relevant rules will be suggested over the lectures.