MAHDALOVÁ, Silvie. The Principle of Universality versus the Principle of Territoriality in the European Insolvency Law. In Proceedings of the 3rd International Conference on European Integration 2016. Ostrava: VŠB - Technical University of Ostrava, 2016, p. 564-571. ISBN 978-80-248-3911-0.
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Basic information
Original name The Principle of Universality versus the Principle of Territoriality in the European Insolvency Law
Authors MAHDALOVÁ, Silvie (203 Czech Republic, guarantor, belonging to the institution).
Edition Ostrava, Proceedings of the 3rd International Conference on European Integration 2016, p. 564-571, 8 pp. 2016.
Publisher VŠB - Technical University of Ostrava
Other information
Original language English
Type of outcome Proceedings paper
Field of Study Legal sciences
Country of publisher Czech Republic
Confidentiality degree is not subject to a state or trade secret
Publication form printed version "print"
WWW URL
RIV identification code RIV/00216224:14220/16:00093589
Organization Právnická fakulta – Repository – Repository
ISBN 978-80-248-3911-0
UT WoS 000387986300062
Keywords in English International Insolvency Law; Insolvency Proceedings; the Principle of Universality; the Principle of Territoriality; Modified Universality
Changed by Changed by: RNDr. Daniel Jakubík, učo 139797. Changed: 3/9/2020 21:17.
Abstract
The international insolvency law is based on two main principles – the principle of universality and the principle of territoriality. Under the principle of territoriality, the insolvency proceedings shall be limited to the assets located in the state in which the proceedings were opened. In light of the principle of universality, there is one single insolvency proceeding which shall affect all assets of the debtor and shall be governed by one national law. The universalism ensures efficiency and economy of the insolvency proceedings. On the other hand, due to widely differing national insolvency laws the application of universality without exception may cause difficulties. Therefore, European insolvency law is based on the modified universality which is a compromise between these two main principles. The article aims to outline the theoretical basis of these principles and analyze their concrete manifestations within cross-border insolvency proceedings.
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