Abstract
International bankruptcy has been grown by international trade. It has been created a wide literature about it. It is one of the essential factors to survive in the international trade space. Setting and enacting laws in this regard remarkably will help solve the legal troubles in the case of international trade. The aim of the present research is to investigate international bankruptcy with an emphasis on trade bill approved in 2013. The results show that new bill has somewhat been able to make general regulations and intended fundamental principles in UNCITRAL Model Law considered. It is done with regard to United Nations Commission on International Trade Law regarding borderless bankruptcy. By investigating different articles of the new bill it can be inferred that the tendency of the legislator is towards a theory of regionalism. Although it is somehow adjusted (regionalism based on interactions). The absolute basis of regionalism has been deduced from that. Therefore it could be said that the legislator has somewhat been lead to the theory of regionalism based on international interactions.
Highlights
International bankruptcy has been grown by international trade
The results show that new bill has somewhat been able to make general regulations and intended fundamental principles in UNCITRAL Model Law considered
It is done with regard to United Nations Commission on International Trade Law regarding borderless bankruptcy
Summary
There is no coordination in Iranian trade law (approved in 1932) through social developments and changes in economic and trade relations, despite passing along time after its initial approval date and alterations in social status. Synchronous with legislation and amendment of law about bankruptcy in different countries, Iran has allocated the new bill approved on 11/04/2012 the ninth chapter of the fourth book to the regulations related to bankruptcy internationally. It is an adaption of UNCITRAL Model Law. Since there have not been yet these regulations in trade law and other related laws, this chapter is considered as innovations and privileges of the new bill. During 6 regulatory chapter related to definition and terms, it has allocated accessibility of creditors and foreign representatives interior court, recognition of foreign proceedings, the effects of the recognition of foreign proceedings, judicial cooperation, and simultaneous proceedings for article 1151 to 1199 of a new bill to itself
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