Global Insolvency Proceedings for a Global Market: The Universalist System and the Choice of a Central Court, in Symposium: Bankruptcy’s Universal Pragmatist: A Celebration of the Work of Jay Lawrence Westbrook.

In this time of relative prosperity, large multinational companies are filing insolvency proceedings all over the world.1 Restructuring is now part of the daily routine of global business--back then a bit more, at the moment a bit less, but always a stream of needed repairs. The overall challenge is to manage damaged enterprises across borders in a world governed by nation-states. In this Article, I suggest that we should enlarge our perspective to embrace not only the Model Law on Cross-Border Insolvency (Model Law),2 but also the larger system of modified universalism that it both presupposes and anticipates.