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The Provisions On Conflict of Laws in the American Bankruptcy Act

The Provisions On Conflict of Laws in the American Bankruptcy Act THE PROVISIONS ON CONFLICT OF LAWS IN THE AMERICAN BANKRUPTCY ACT By KURT H. NADELMANN I. National legislation on bankruptcy may at its pleasure declare that property of the bankrupt located abroad is considered part of the bankrupt estate. Depending upon the conflicts rules in the country of the location of such property, incorporation of it in the estate will or will not be possible. Experience shows that foreign assets can be collected in many cases. Therefore, the policy to consider all pro- perty, wherever located, part of the estate has practical advantages, besides being the only one acceptable from the viewpoint of the equal distribution of all assets among all creditors. The opposite policy tends to lead to confusion. On the basis of the much-discussed early English case Solomons v. Ross'), the Scotch lawyer George Joseph Bell asserted in his great treatise on bankruptcy that the maxim mobilia sequuntur personam governs conflict of laws in bankruptcy2). Confounding the conflicts problem arising abroad with the policy decision which has to be made at home, legislatures in various countries provided in the last century that movable, but not immovable, property abroad shall be claimed for the estate3). The old http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Nordic Journal of International Law Brill

The Provisions On Conflict of Laws in the American Bankruptcy Act

Nadelmann, Kurt H.
Nordic Journal of International Law , Volume 23 (1): 43 – Jan 1, 1953
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Publisher
Brill
Copyright
© 1953 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
0902-7351
eISSN
1571-8107
DOI
10.1163/157181053X00199
Publisher site
See Article on Publisher Site

Abstract

THE PROVISIONS ON CONFLICT OF LAWS IN THE AMERICAN BANKRUPTCY ACT By KURT H. NADELMANN I. National legislation on bankruptcy may at its pleasure declare that property of the bankrupt located abroad is considered part of the bankrupt estate. Depending upon the conflicts rules in the country of the location of such property, incorporation of it in the estate will or will not be possible. Experience shows that foreign assets can be collected in many cases. Therefore, the policy to consider all pro- perty, wherever located, part of the estate has practical advantages, besides being the only one acceptable from the viewpoint of the equal distribution of all assets among all creditors. The opposite policy tends to lead to confusion. On the basis of the much-discussed early English case Solomons v. Ross'), the Scotch lawyer George Joseph Bell asserted in his great treatise on bankruptcy that the maxim mobilia sequuntur personam governs conflict of laws in bankruptcy2). Confounding the conflicts problem arising abroad with the policy decision which has to be made at home, legislatures in various countries provided in the last century that movable, but not immovable, property abroad shall be claimed for the estate3). The old

Journal

Nordic Journal of International Law – Brill

Published: Jan 1, 1953

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