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7 For a more detailed discussion, see s E.II. 8 For a more detailed discussion, see sub-s D.II.1.c). 9 For a more detailed discussion, see s E.II. 17 UNCITRAL adopted the Model Law on Cross-Border Insolvency ("MLCBI") in 1997 and revised its Guide to Enactment and Interpretation ("Guide to the MLCBI") in 2013.See UNCITRAL, Model Law on Cross-Border Insolvency with Guide to Enactment and Interpretation (UN 2014) accessed 21 October 2025. For a summary of its origins and legislative history, see Adrian Walters, 'Modified Universalisms & the Role of Local Legal Culture in the Making of Cross-Border Insolvency Law' (2019) 93 Am Bankr LJ 47, 56.18 Walters, 'Modified Universalisms' (n 17) 60.It is noteworthy that South Africa includ ed a reciprocity requirement in its local version of the MLCBI.Christoph G. Paulus, 'Civil Law Codificationalism vs. UNCITRAL's Soft Law Approach in the Context of Insolvency Law' in Ángel María Ballesteros Barros and David Amable Morán Bovio (eds), Insolvency Law in UNCITRAL: Instruments and Comments (Editorial Aranzadi 2023), 392.19 For a more detailed discussion of the MLCBI, see sub-s B.III.2.20 For the status of the MLCBI, see UNCITRAL, 'Status: UNCITRAL Model Law on Cross-Border Insolvency (1997)' accessed 21 October 2025.21 For a more detailed discussion, see sub-s B.II.4.22 For a more detailed discussion of the automatic effects of recognition and post-recog nition relief under the MLCBI, see sub-s B.III.2.c).27 Ian F. Fletcher, The Law of Insolvency (5th edn, Sweet & Maxwell 2017) paras 1-007-08.28 ibid para 1-008.29 Kristin van Zwieten (ed), Goode on Principles of Corporate Insolvency Law (5th edn, Sweet & Maxwell 2018) para 2-04.30 Douglas G. Baird, 'Priority Matters: Absolute Priority, Relative Priority, and the Costs of Bankruptcy' (2016) 165 U Pa L Rev 785, 789 31 ibid.32 ibid 789-90.33 ibid.34 See, eg, generally Dominik Skauradszun and Walter Nijnens, 'Brussels Ia or EIR Recast?The Allocation of Preventive Restructuring Frameworks' (2019) 16 Int Corp Res 193; Irit Mevorach and Adrian Walters, 'The Characterization of Pre-Insolvency Proceedings in Private International Law' (2020) 21 EBOR 855.35 Generally, discharge only occurs once insolvency proceedings have been terminated and the debtor has been liquidated.Even in this scenario, one cannot talk about full discharge since creditors may still enforce the unpaid part of their claims against the debtor's assets discovered after the latter's liquidation.See, eg, German Insolvency Code (Insolvenzordnung ["InsO"]), s 201.For a more detailed discussion, see Riz Mokal, 'What is an Insolvency Proceeding?Gategroup Lands in a Gated Community' (2022) 31 Intl Ins Rev 418, 422.36 Madaus, 'The Cross-border Effects of Restructurings' (n 3) 480.37 Title 11 of the US Code ("BC").'Interpretation Internationale' (2015) 87 Temp L Rev 739, 748; Jay Westbrook, 'Ian Fletcher and the Internationalist Principle' (2015) 3 NIBLeJ 30 565 accessed 21 October 2025, 566.44 Rolef de Weijs, 'Too Big to Fail as a Game of Chicken with the State: What Insolvency Law Theory Has to Say About TBTF and Vice Versa' (2013) 14 EBOR 201, 210-12.45 Mokal, 'What is an Insolvency Proceeding?' (n 35) 429.46 For a more detailed discussion of the English scheme of arrangement, see sub-s E.II.2.b).47 In relation to such debtor, the proceeding should not be considered as an insolvency proceeding as per Riz Mokal's classification.See Mokal, 'What is an Insolvency Proceeding?' (n 35) 429.48 Kannan Ramesh, 'The Gibbs Principle -A Tether on the Feet of Good Forum Shopping' (2017) 29 SAcLJ 42, para 21ff.58 ibid 618.59 ibid 637.60 ibid 629-30, 637-38.61 For a more detailed discussion of the features of internationality in insolvency (re structuring) proceedings, see van Zwieten (ed), Principles of Corporate Insolvency Law (n 29) para 16-02.81 This aligns with Irit Mevorach and Adrian Walter's general idea of using safeguards under the MLCBI to address the peculiarities of pre-insolvency restructurings (see text to n 66).82 Fletcher (n 27) paras 28-020-21.83 For a discussion of the origins of the doctrine, see generally Hessel E. Yntema, 'The Comity Doctrine' (1966) 65 Mich L Rev 9; Joel R. Paul, 'Comity in International Law' (1991) 32 Harv Intl L J 1, 12-17.88 ibid 1053 (citations omitted).89 For a critical analysis of this definition, see Paul (n 83) 8-11; Dodge (n 84) 2074-75.90 Westbrook, 'Comity and Choice of Law' (n 12) 260.91 Andrew Godwin, Timothy Howse and Ian Ramsay.'The Inherent Power of Common Law Courts to Provide Assistance in Cross-Border Insolvencies: From Comity to Complexity' (2017) 26 Intl Ins Rev 5, 7-9.92 Cunard Steamship Co. v. Salen Reefer Services AB, 773 F2d 452, 457-58 (2d Cir 1985).For a more detailed discussion of this case, see Douglass G. Boshkoff, 'United States Judicial Assistance in Cross-Border Insolvencies'(1987) 36 Intl Comp LQ 729, 731-35.101 Fletcher (n 27) para 28-004; van Zwieten (ed), Principles of Corporate Insolvency Law (n 29) para 16-04.102 Mevorach, The Future of Cross-Border Insolvency (n 93) 4. For a summary of both approaches (universalism and territorialism) and current theories emerging from their convergence, see Edward S. Adams and Jason K. Finche, 'Coordinating Cross-Border Bankruptcy: How Territorialism Saves Universalism' (2008) 15 Colum J Eur L 43, 47ff; van Zwieten (ed), Principles of Corporate Insolvency Law(n 29) paras 16-04-07. See also Paul J. Omar, 'The Landscape of International Insolvency Law' (2002) 11 Intl Ins Rev 173, 176-181.103 Adams and Finche (n 102) 47. 104 Frederick Tung, 'Is International Bankruptcy Possible' (2001) 23 Mich J Intl L 31, pt II; Adams and Finche (n 102) 53; Fletcher (n 27) para 28-020; van Zwieten (ed), Principles of Corporate Insolvency Law (n 29) para 16-05.105 Westbrook, ' A Global Solution' (n 100) 2292-94.See also Mevorach, The Future of Cross-Border Insolvency (n 93) 5ff.For a comparative analysis of the advantages of universalism and the disadvantages of the concurrent proceedings with territorial effect, see van Zwieten (ed), Principles of Corporate Insolvency Law (n 29) para 16-05.106 Westbrook, ' A Global Solution' (n 100) 2285-86.For a discussion of the advantages of the universalist system concerning restructuring proceedings, see also Mevorach, The Future of Cross-Border Insolvency (n 93) 11-12; Westbrook, 'Comity and Choice of Law' (n 12) 266.126 Bork, Principles of Cross-Border Insolvency Law (n 93) para 2.35.127 See, eg, InsO (n 35) ss 335ff.128 See text to n 82.129 On the position of Denmark, see EIR (n 13) rec 88. 130 UNCITRAL adopted the Model Law on Recognition and Enforcement of Insolven cy-Related Judgments ("MLIJ") with its Guide to Enactment ("Guide to the MLIJ") in 2018.See UNCITRAL, Model Law on Recognition and Enforcement of Insolvency-Related Judgments with Guide to Enactment (UN 2019) accessed 21 October 2025.131 EIR (n 13) recs 3, 5. 132 ibid recs 7, 10, art 1 (1).133 ibid rec 9, arts 1 (1), 2 (4).134 ibid recs 12-13, 16. 135 Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and recognition and enforcement of judgments in civil and commercial matters (recast) (Brussels I bis Regulation).136 A typical example in this context was the English scheme of arrangement which was arguably considered to fall within the scope of the Brussels I bis Regulation in the pre-Brexit era.See Dominik Skauradszun and Walter Nijnens, 'The Toolbox for Cross-Border Restructurings Post-Brexit -Why, What & Where?' (2019) 7 NIBLeJ 1 1 accessed 21 October 2025, 2 (and cited sources in fn 4 therein).See also Paterson, ' A Qualified Defence of the Rule in Gibbs' (n 74) pt VI. 137 EIR (n 13) rec 23.For a more detailed discussion of the elements of universalism under the EIR, see Bork, Principles of Cross-Border Insolvency Law (n 93) para 2.17.138 EIR (n 13) rec 23-28, art 3 (1).157 ibid art 2 (b).158 ibid art 16 (3).159 ibid art 2 (c).For the definition of establishment, see ibid art 2 (f ).160 Guide to the MLCBI (n 17) para 3. 161 Irit Mevorach, 'On the Road to Universalism: A Comparative and Empirical Study of the UNCITRAL Model Law on Cross-Border Insolvency' (2011) 12 EBOR 517, 523-24; Walters, 'Modified Universalisms' (n 17) 59. 162 For the definition of foreign representative, see MLCBI (n 17) art 2 (d).163 ibid arts 15-17.164 ibid art 20.