Hastings International and Comparative Law Review


Eric Sokol


Recent cases in the United States, United Kingdom, and Australia have all signaled that international insolvency law is slowly losing traction to more regional proceedings. This can have huge ramifications for creditors of international companies. The past decade has seen much international progress in business insolvencies; with the previous “territorialist” models of regional dismantling giving way to more “universalist” approaches. New trends in these large jurisdictions may herald the discovery of modified universalism’s breaking point, but not its diminishment nor defeat. This healthy prognosis for modified universalism in the U.S., United Kingdom (U.K.), and Australia is further bolstered by a proliferation of new and exciting universalist tendencies in jurisdictions around the world.