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International Co‐operation in Cross‐Border Insolvency: HIH Insurance
Author(s) -
Townsend John
Publication year - 2008
Publication title -
the modern law review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.37
H-Index - 22
eISSN - 1468-2230
pISSN - 0026-7961
DOI - 10.1111/j.1468-2230.2008.00716_1.x
Subject(s) - insolvency , creditor , universalism , political science , law , law and economics , business , economics , finance , debt , politics
The House of Lords decision in HIH Insurance raised important questions about the pari passu principle of distribution in cross‐border insolvency. This comment examines the case in light of academic debate, arguing that Lord Hoffmann's application of the principle of (modified) universalism achieved distributive justice amongst HIH group creditors.