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The hotchpot rule in Korean insolvency proceedings
- The hotchpot rule in Korean insolvency proceedings
- Han, Min
- Seoul National University(BK 21 Law)
| Title |
The hotchpot rule in Korean insolvency proceedings
Similar Titles
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| Material Type | Articles |
| Author(English) |
Han, Min |
| Publisher |
[Seoul] : Seoul National University(BK 21 Law) |
| Date | 2007 |
| Journal Title; Vol./Issue | Journal of Korean Law:vol. 7(no. 2) |
| Pages | 40 |
| Subject Country | South Korea(Asia and Pacific) |
| Language | English |
| File Type | Link |
| Subject | Government and Law < Laws and Legislation |
| Holding | Seoul National University |
| License |  |
Abstract
A new consolidated insolvency law called the “Debtor Rehabilitation and Bankruptcy Law” (“DRBL”), which became effective in the Republic of Korea on April 1, 2006, has discarded the principle of territoriality under the previous insolvency laws and adopted the so-called modified principle of universality. At least for the purpose of Korean laws and Korean insolvency proceedings, therefore, the effect of an insolvency proceeding which has commenced in Korea would have effect on the debtor’s assets situated in a foreign country. However, whether and to what extent a Korean insolvency proceeding would be recognized and enforced in a foreign country, in which the debtor’s assets are situated, depends upon the laws of that foreign country. (The rest omitted)
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