Jump to ContentJump to Main Navigation
The Future of Cross-Border InsolvencyOvercoming Biases and Closing Gaps$
Users without a subscription are not able to see the full content.

Irit Mevorach

Print publication date: 2018

Print ISBN-13: 9780198782896

Published to Oxford Scholarship Online: April 2018

DOI: 10.1093/oso/9780198782896.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 07 April 2020



The Future of Cross-Border Insolvency

(p.257) 7 Conclusion
The Future of Cross-Border Insolvency

Irit Mevorach

Oxford University Press

This chapter provides a summary and concluding remarks regarding the future of cross-border insolvency. It argues based on the analysis in the previous chapters that a regime that fits current market conditions and increases global and local welfare is within reach, and is founded on the emerging norms of modified universalism. Persisting territorial inclinations should not cast a shadow over the desirability of modified universalism. Rather than yielding to territorialist inclinations, international actors should strengthen modified universalism by attempting to close gaps in the system to reflect agreed norms and by working to overcome negative biases in favour of positive ones. Modified universalism can crystallize into binding law in the form of customary international law (CIL), which can close gaps and overcome biases. The system can further foster compliance with the norms through a range of measures. While cross-border insolvency is already governed by proper instruments, certain gaps remain. It is suggested that there is room for additional work on the instruments and generally on strengthening the cross-border insolvency system. Future reform should continue to be multifaceted, with different roles assigned to different actors.

Keywords:   cross-border insolvency, global and local welfare, modified universalism, decision-making research, international organizations, international instruments

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .