The Future Of Crossborder Insolvency Overcoming Biases And Closing Gaps Irit Mevorach by Irit Mevorach 9780198782896, 0198782896 instant download after payment.

A fresh and insightful guide to post-financial crisis cross-border insolvency, this book interrogates the current regime and sets out a framework for improving its future. In recent decades, and especially since the global financial crisis, a number of important initiatives have focused on
developing the mechanisms for managing the insolvency of multinational enterprises and financial institutions. The book considers the effectiveness of the current system and identifies the gaps that could be bridged by adopting certain strategies and tools, to improve the system further.
The book first discusses the theoretical debate regarding cross-border insolvency and surveys the strengths and weaknesses of the prevailing method-modified universalism-in its application to both commercial entities and financial institutions, consequently identifying a single set of emerging
norms. The book argues that adhering to these norms more robustly would enhance global welfare and produce the best outcomes for businesses and institutions.
By drawing upon sources from international law as well as behavioural and economic theory, the book offers a blueprint for meeting the demands of future cross-border insolvencies. It considers how to translate modified universalism into binding international law and how to choose the right
instrument for cross-border insolvency as well as the impact that instrument design has on decisions and choices. It explores how to encourage compliance and proposes mechanisms that could potentially overcome, or at least take into account, behavioural biases in decision-making.