1 . 3 . U N I T E D STATES
17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33
34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67
68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84
85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101
102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118
119 120 121 122 123 124 125 126 127
Cross-border insolvency was first specifically addressed by the Bankruptcy Code 1978
(UBC 1 9 7 8 ) . I s The Code allows for a foreign representative to request proceedings
ancillary to foreign proceedings. S/he may further request the suspension or dismissal
of United States proceedings in favour of foreign insolvency proceedings or, alternatively,
request the commencement thereof.'" United States cross-border insolvency
law is currently subject to reform in the Bankruptcy Abuse Prevention and Consumer
Protection Act 2 0 0 5 . " T h e reform, which enters into force October 2 0 0 5 , adds a new
Chapter XV to the Code incorporating the UNCITRAL Model Law on Cross-border
Insolvency, to be discussed later in this chapter. Amongst other things, the reform
will replace the existing 'ancillary proceedings' and extend the statutory framework
to concurrent proceedings. However, it remains appropriate to include current law
S e c chapter 7 inlrn.
A New Paradigm ot Co-operation
in the discussion, as that law has been influential both for developments in other states
and for the Model Law itself while, moreover, existing case-law will remain relevant
also for the new Chapter X V . ' "