The EU Regulation on Insolvency Proceedings: The Need for a Modified Universal Approach

The growth of cross-border insolvencies has increased with the growth of international business activity. As courts of multiple jurisdictions are implicated, conflict-of-law problems surface. This note examines different theories which purport to overcome these conflict-of-law problems. This note also proposes that a modified universalism theory, as opposed to the dominant universalism theory, is the best solution to the problems which arise from the cross-border insolvencies