Transnational Insolvency: Cooperation Among the NAFTA Countries - 4 Volume Series

Price: $325.00 Published November 2003.

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About the Books: These four volumes together constitute the final product of the American Law Institute (ALI) project on insolvency cases within NAFTA and its three member countries the United States, Canada and Mexico. The project is important both for its own achievements and as the ALI’s pioneering effort in transnational law reform.

These volumes offer coherent descriptions of how the bankruptcy system works in practice in each of the three countries, descriptions that are accurate and also comprehensible to judges and practitioners in all three counties. This constituted Phase I of the project, and the three national statements produced, each of which appears in a separate volume, are important contributions in their own right. The second and culminating goal of the project, however, was to move beyond the limitations of current practice and to recommend new procedures for more efficient coordination when cross-border insolvencies occur. The volume constituting Phase II of the project therefore contains carefully considered black letter and commentary very much in the traditional ALI mode, stating and elaborating principles for judicial co­operation among these three countries that reflect, and are informed by, the realities of bankruptcy law and practice in each, as discerned in the process of developing the national statements and subjecting them to the interrogation and criticism of experts from all three countries.

In part influenced by these works, all of the countries have reconsidered aspects of their bankruptcy laws during the life of the project. Indeed, final publication of this work had to be delayed for comprehensive revision of the Mexican Statement and partial revision of the Principles, both necessitated by Mexico’s adoption of a new Bankruptcy Code.

Principles of Cooperation Among the NAFTA Countries

International Statement of United States Bankruptcy Law

International Statement of Canadian Bankruptcy Law

International Statement of Mexican Bankruptcy Law