Effective cross-border restructuring in a modern commercial world: time for an alternative to the rule in Gibbs?
Victorian florin from 1890: the currency that was in circulation when Gibbs was handed down (Credit: WikimediaCommons/Windrain)
It may be time for an alternative to the rule in Gibbs, says Scott Atkins, president of INSOL International and Australian chair at Norton Rose Fulbright, as he examines recent jurisprudence on the 130-year-old rule from around the common law world, and the potential impact – or lack thereof – that the UK’s contemplated implementation of the UNCITRAL Model Law on the Recognition and Enforcement of Insolvency-Related Judgments will have on its operation.
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