Cultural Matters in Fashioning a Cross-Border Workout

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Inspired legal or financial strategies are at the heart of any successful workout, but it also takes considerable finesse to balance the interests of competing stakeholders in order to craft a collective solution for the continuity of a troubled entity. It is difficult enough to orchestrate a solution in the case of relatively simple, single entity insolvencies. It is exponentially more complicated to deal with cross-border workouts and multinational enterprise groups, when dynamics are complicated by competing legal jurisdictions and an array of cultural and other nuances. This paper is a collaboration by Allan Nackan, Paul Keenan Jr., Jean Baron and Rodrigo Callejas – Fellows of INSOL International and examines the impact of cultural factors on cross-border insolvency workouts. Click Cultural Factors to download and read the paper [published in the Annual Review of Insolvency Law – 2012].  

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