Abstract

In view of the ongoing debate concerning territoriality and universality in transnational insolvency cases in the U.S.,' it is interesting to note that the German Supreme Court in Civil matters (Bundesgerichtshof, hereinafter BGH) has in a recent decision taken a further step on its path toward adoption of universality.2 The case in question confronted the court with one of the most intricate and problematic issues arising under international insolvency law (IIL): whether or not a bankruptcy discharge acquired in a foreign country has any influence on a suit against the debtor in the home forum. In holding that the suit was unfounded, the judges confirmed their commitment to the principle of universality despite the retirement of the former president of the panel, Judge Merz, who was a declared supporter of that principle.3 A brief outline of the development of German statutory and case law in the area of IIL will assist in an understanding of the recent decision.

Full Text
Published version (Free)

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 call