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

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

Author: Jingchen Xu
Publisher: Hart Publishing
ISBN: 9781509935994

Published In: December 2020
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781509942619

List Price: HKD 1,300.00

HKD 1,261.00 Save HKD 39.00 (3%)

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Description
Contents

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This book covers the pressing issues of cross-border cases involving admiralty and bankruptcy law. For example, what should happen when a shipowner files an insolvency proceeding in one country, while at the same time facing an in rem action against its vessel in another country? Should the in rem action arising in one country be stayed or dismissed because of the existence of insolvency proceedings in another country?

The book discusses the relevant issues regarding the treatment of maritime creditors throughout insolvency proceedings, the determination of the 'centre of main interest' of an offshore shipping company, and the scope of a debtor's assets. The author uses a comparative law analysis, selecting four leading shipping countries – Australia, the UK, the US, and Singapore – examining their approaches to the above three problems when applying the UNCITRAL Model Law regime.

The book also proposes a solution to help eliminate the ambiguity arising from maritime cross-border insolvency cases under the UNCITRAL Model law regime, with a view to enhancing the development of the shipping industry.

1. Introduction

2. Bankruptcy Law: Fundamental Aims and Relevant Prominent Principles

I. Fundamental Aims of the Law of Insolvency

II. Liquidation and Reorganisation

III. Stay of Proceedings

IV. Secured Creditors and Unsecured Creditors

3. Cross-Border Insolvency: Theoretical Divergence and Its Status Quo

I. The Problem with Cross-Border Insolvency

II. Theoretical Divergence

III. The Evolution of Theories and the Status Quo

4. The UNCITRAL Model Law

I. Access

II. Recognition

III. Relief

IV. Co-operation and Co-ordination

5. Maritime Claims: Characteristics, Secured Status and Enforcement Methods

I. Maritime Liens

II. Statutory Rights of Action in Rem

III. Ship Mortgages

IV. Conflict of Laws

V. Enforcement of Maritime Claims

6. Key Conflicts between the UNCITRAL Model Law and Maritime Practice

I. Treatment of Maritime Creditors under the UNCITRAL Model Law Regime

II. Determination of the Centre of Main Interest

III. Scope of Debtor's Assets

7. Australia

I. Overview

II. The Regime of Insolvency and the Secured Status of Maritime Claims in Australia

III. Cross-Border Insolvency in Australia

IV. Attitudes of the Courts Toward in Rem Actions and the Personification Doctrine in Australia

V. Status of Chartered Vessels in Cross-Border Insolvency

VI. Summary

8. United Kingdom

I. Overview

II. The Insolvency Act 1986 and the Secured Status of Maritime Claims in the UK

III. Cross-Border Insolvency in the UK

IV. Courts' Attitudes Toward in Rem Actions and the Personification Doctrine in the UK

V. Status of Chartered Vessels in Cross-Border Insolvency

VI. Summary

9. United States

I. Overview

II. The Bankruptcy Code of the United States

III. Cross-Border Insolvency in the United States

IV. US Attitude Towards in Rem Actions and the Personification Doctrine

V. Status of Chartered Vessels in Cross-Border Insolvency

VI. Summary

10. Singapore

I. Overview

II. The Regime of Insolvency and Secured Status of Maritime Claims in Singapore

III. Cross-Border Insolvency in Singapore

IV. Courts' Attitudes Towards in Rem Actions and the Personification Doctrine in Singapore

V. Status of Chartered Vessels in Cross-Border Insolvency

VI. Summary

11. Policy Reflections on the Treatment of Maritime Creditors under the UNCITRAL Model Law Regime

I. Maritime Liens

II. Statutory Rights of Action in Rem

III. Ship Mortgages

IV. Conflict of Laws

V. Summary

12. Policy Reflections on the Determination of the Centre of Main Interest and the Scope of Debtor's Assets

I. Determination of the Centre of Main Interest of Shipping Companies

II. Scope of Debtor's Assets

III. Summary

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