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The Future of Cross-Border InsolvencyOvercoming Biases and Closing Gaps$
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Irit Mevorach

Print publication date: 2018

Print ISBN-13: 9780198782896

Published to Oxford Scholarship Online: April 2018

DOI: 10.1093/oso/9780198782896.001.0001

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Modified Universalism as Customary International Law

Modified Universalism as Customary International Law

(p.80) 3 Modified Universalism as Customary International Law
The Future of Cross-Border Insolvency

Irit Mevorach

Oxford University Press

This chapter considers how modified universalism may be elevated from a broad approach to a recognized, international legal source that can be invoked and applied in a more concrete and consistent manner across legal systems in circumstances of international insolvencies. It draws from sources of international law and, specifically, the concept of customary international law (CIL). CIL is a key legal source that fills gaps in international treaties, influences treaty regimes, and regulates in areas not covered by treaties or by other instruments or regarding countries that are not parties to a treaty or to another regime. CIL is also useful as a debiasing mechanism because its application does not require active action by all participants. The chapter suggests how modified universalism can transform into CIL. It also highlights the prominent international role of private international law and, thus, the role of actors and participants in international insolvencies as creators and guardians of international law.

Keywords:   customary international law (CIL), general principles of law, debiasing mechanisms, modified universalism, private international law, comity, international law

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