Abstract
ABSTRACT Financial difficulties experienced within the shipping industry have caused an increasing number of maritime cross-border insolvencies. The UNCITRAL Model Law on Cross-Border Insolvency (the Model Law) is designed to assist countries in equipping their insolvency laws with a modern framework that more effectively addresses cross-border insolvency proceedings. This paper discusses whether China should adopt the Model Law, using the method of strategic game theory based on the Hanjin Bankruptcy case. Our results show that, from the perspective of a mathematical evaluation, China should not adopt the Model Law, since Hanjin declared bankruptcy with South Korea’s adoption already having taken place. Even if the Model Law is adopted, its application in China will be very limited due to the structure of Chinese shipping enterprises.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
