Insolvency law has been traditionally conceived as a last resort mechanism intended to distribute economic loss and avoid further insolvencies. This legal field started to draw renewed attention with the approval of the 1997 Model Law on Cross-Border Insolvency by UNCITRAL. Later, this UN agency has cooperated with the World Bank to develop the Insolvency and Creditor Rights Standard which works in combination with the World Bank Principles for Effective Insolvency and Creditor/Debtor Regimes, and the 2004 UNCITRAL Legislative Guide on Insolvency Law. The course will pay attention to the evolution of Cross-Border Insolvency Regimes by examining the history, objectives, policies, and principles behind modern insolvency law.

CILO-1: Students will be able to explain the rules, policies, and principles of insolvency law from a comparative perspective. CILO-2: Students will be able to explain the economic and social objectives attributed to the insolvency law system. CILO-3: Students will be able to demonstrate an analytical interpretation of the effectiveness of current insolvency laws and policies.