Recognition of Restructuring Plans under the UNCITRAL Model Law on Cross-Border Insolvency - Modified Universalism, the Gibbs Rule, and the "Adequate Protection" Safeguard

This doctoral thesis analyses the recognition of restructuring plans under the MLCBI, focusing on two jurisdictions: England and the US. It contrasts the Gibbs rule with the approach followed under Chapter 15 and seeks to develop a balanced framework that reconciles the interests of the debtor and dissenting foreign creditors. Unlike the Gibbs rule, this framework does not make the recognition of a debt discharge in foreign restructuring proceedings conditional upon the debtor's restructuring being conducted under the law governing that debt. Instead, it focuses on the assessment of substantive fairness at the recognition stage as part of the "adequate protection" safeguard under the MLCBI to ensure the fair treatment of foreign creditors.

Riassunto

This doctoral thesis analyses the recognition of restructuring plans under the MLCBI, focusing on two jurisdictions: England and the US. It contrasts the Gibbs rule with the approach followed under Chapter 15 and seeks to develop a balanced framework that reconciles the interests of the debtor and dissenting foreign creditors. Unlike the Gibbs rule, this framework does not make the recognition of a debt discharge in foreign restructuring proceedings conditional upon the debtor’s restructuring being conducted under the law governing that debt. Instead, it focuses on the assessment of substantive fairness at the recognition stage as part of the “adequate protection” safeguard under the MLCBI to ensure the fair treatment of foreign creditors.

Dettagli sul prodotto

• Autori: Abbas Abbasov
• Editore: Nomos
• Lingue: Inglese
• Formato: Tascabile
• Pubblicazione: 01.01.2026
• EAN: 9783756036127
• ISBN: 978-3-7560-3612-7
• Pagine: 245
• Peso: 365 g
• Serie: Schriften zur Restrukturierung
• Categorie: Scienze sociali, diritto, economia > Diritto > Diritto commerciale, diritto economico; Öffentliche Ordnung, Gläubigerschutz, Public Policy, Verfahrensgerechtigkeit, materielle Gerechtigkeit, creditor protection, Cross-border restructuring, grenzüberschreitende Umstrukturierung, procedural fairness, Anerkennung der Schuldentilg, substantive fairness, recognition of debt discharge, Referenzrecht, bench-mark law