By Peter Bowden.
Complex cross-border issues can be dealt with relatively easily under the Cross-Border Insolvency Act as long as flexibility is built into the relevant orders.
Cross-border insolvencies and restructuring might sound challenging, but there are some mechanisms that can make the process run surprisingly smoothly. Australia’s Cross-Border Insolvency Act 2008 (Cth) was recently used in the context of a multinational reorganisation of a Japanese business to recognise foreign insolvency proceedings (Yakushiji v Daiichi Chuo Kisen Kaisha  FCA 1170).
Overview of the Cross-Border Insolvency Act
The Cross-Border Insolvency Act 2008 incorporates the Model Law o…