Maritime Cross-Border Insolvency under the UNCITRAL Model Law Regime: Commonwealth and US Perspectives

This book explores cross-border cases involving admiralty and bankruptcy law, discussing issues such as the treatment of maritime creditors, the determination of the center of main interest, and the scope of a debtors assets. It proposes a solution to eliminate ambiguity in maritime cross-border insolvency cases under the UNCITRAL Model Law regime to enhance the shipping industry.

Format: Paperback / softback
Length: 208 pages
Publication date: 12 May 2022
Publisher: Bloomsbury Publishing PLC

This comprehensive book delves into the intricate and pressing issues of cross-border cases involving admiralty and bankruptcy law. It addresses a range of scenarios, such as what happens when a shipowner files an insolvency proceeding in one country while simultaneously facing an in rem action against its vessel in another. The book explores the complex dynamics surrounding the treatment of maritime creditors during insolvency proceedings, the determination of the center of main interest of an offshore shipping company, and the scope of a debtor's assets.

The author employs a comparative law analysis, selecting four leading shipping countries – Australia, the UK, the US, and Singapore – to examine their approaches to these three problems when applying the UNCITRAL Model Law regime. Through this comparative study, the author seeks to shed light on the ambiguities and inconsistencies that arise in maritime cross-border insolvency cases and proposes a solution aimed at enhancing the development of the shipping industry.

The book is organized into five chapters, each dedicated to exploring different aspects of cross-border insolvency cases. In the first chapter, the author provides an overview of the legal framework governing cross-border insolvency cases, including the UNCITRAL Model Law and its principles. The second chapter explores the treatment of maritime creditors during insolvency proceedings, examining the rights and interests of shipowners, charterers, and other maritime stakeholders.

The third chapter focuses on the determination of the center of main interest of an offshore shipping company, a crucial aspect in cases involving multiple jurisdictions. The author discusses the criteria used to determine the center of main interest and the implications of this determination for the jurisdiction and enforcement of claims.

The fourth chapter examines the scope of a debtor's assets in cross-border insolvency cases, particularly in the context of maritime assets. The author discusses the legal principles governing the attachment and seizure of ships and other maritime assets and the challenges associated with enforcing maritime claims in different jurisdictions.

In the fifth chapter, the author proposes a solution to help eliminate the ambiguity arising from maritime cross-border insolvency cases under the UNCITRAL Model Law regime. The solution involves the establishment of a central forum or registry for maritime cross-border insolvency cases, which would facilitate the coordination of proceedings and ensure the uniform application of law.

Overall, this book is a valuable resource for legal professionals, scholars, and anyone interested in the field of cross-border insolvency cases involving admiralty and bankruptcy law. It provides a comprehensive analysis of the relevant issues and offers practical solutions to help enhance the development of the shipping industry.

Dimension: 234 x 156 (mm)
ISBN-13: 9781509942619