INSOLVENCY: CROSS-BORDER CLAIMS – FOREIGN DEBTS AND INSOLVENCY- WHAT IS THE STATUS OF YOUR CLAIM?

The Cross-Border Insolvency legislation permits a foreign representative to commence an insolvency proceeding in Australia where the debtor is subject to a foreign proceeding. Difficulties surrounding cross-border insolvencies can result in risk and cost to businesses involved in international trade in goods and services. The legislation assists in the integration of national financial systems with …

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