A Tale of Two Duties

Abstract

This article explores the intersection between the need for judicial cooperation and comity in the coordination of multinational insolvency proceedings, on the one hand, and the duty of the courts to uphold state sovereignty, on the other. It explores this intersection from a uniquely Canadian perspective: a pluralistic, as opposed to a purely territorial or universal, approach, using examples of Canada-United States cross-border insolvencies. The article also briefly discusses the UNCITRAL Model Law and the potential impact, if any, of its recent adoption in principle into Canadian legislation.

TOPICS: Private equity, developed, financial crises and financial market history