Rendering Assistance to a Foreign Liquidator
The incidence, size and complexity of insolvencies, which cross national borders, have grown substantially in recent years. The problems of administering an insolvency, which crosses national boundaries and which is likely to be subject to different national insolvency regimes, can be intractable and costly, often defeating one of the main aim of insolvency, namely, maximizing the return for creditors. Different national and international initiatives have emerged, which attempt to reduce these adverse consequences of a cross-border insolvency.
On the national level, some countries enact legislation, which enjoins their courts to render assistance to foreign liquidators and other insolvency personnel when the latter seek, for example, to recover assets belonging to the insolvent debtor, but situated in a country different from that where the insolvency is being administered. On the international level, treaties seek to produce some measure of legislative harmony between member countries so as to minimize the procedural formalities associated with insolvency personnel operating in foreign jurisdictions. And some countries explore ways of refining principles of jurisdiction and choice of law in the interests of easing the cost and complexity of cross-border insolvency.
Professor Rajak’s talk will seek to provide a very brief overview of these national and international initiatives.
Harry Rajak – Curriculum Vitae
Professor Harry Rajak, took a BA degree in classics and an LLB degree at the University of the Witwatersrand in South Africa and a masters degree in law at London University. He has practised law both in South Africa and England and was the Dean of the University of Sussex Law School between 1997 and 2003. He has held visiting professorship appointments at the Laws Schools of the Hebrew University, Jerusalem, Bonn University, Germany and the University of Connecticut, USA. He has given several invited and keynote lectures, including appointment as the John C Akard Distinguished Lecturer, at the University of Texas School of Law.
Professor Rajak was for a number of years the joint editor of the leading UK journal, Insolvency Law and Practice, and was a consultant at the London-based law firm, Lovells (now Hogan & Lovells). He was a member of the UK’s Insolvency Service Working Party established by the Minister for Trade & Industry on Administration and Corporate Voluntary Arrangements (1993), as well as the UK’s Department of Trade and Industry and Treasury Department’s Review of Company Rescue and Business Reconstruction Mechanisms, (2000). He has written widely on Corporation Law, Corporate Insolvency and Commercial Law issues. His books include Company Liquidations (3rd ed., 2014), European Corporate Insolvency Law, A Sourcebook of Company Law and (with Professors Westbrook, Booth and Paulus) A Global View of Bankruptcy Insolvency Systems (World Bank, 2010).
In addition to presenting papers at many conferences, Professor Rajak has been the chief organiser or a co-organiser of several international conferences, including “Personal Bankruptcy in the 21st Century: Emerging Trends and New Challenges” (with Professor Ron Harris) at the University of Tel Aviv’s Cegla Centre, “The Role of Business in South Africa” at the University of Sussex in the UK, “Consumer Finance Post-Apartheid: The South African Experience” (with Professor Patricia McCoy) at the University of Connecticut School of Law, Hartford, Connecticut. He also chaired the International Conference on “Over-Indebtedness and Credit Regulation” at the University of Pretoria, South Africa.
Date: Thursday, 12 March 2015
Time: 5.15pm for 5.30pm start
Refreshments: Wine and cheese to be served
Venue: Level 5, Ligertwood Building, University of Adelaide