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College of Law, Sumer University

كلية القانون جامعة سومر

P-ISSN: 3081-1082
Researchers in the field of law

The reciprocal impact of multinational corporate bankruptcies

Radwan Hashim

Abstract

Bankruptcy is considered one of the highly important topics within the scope of international corporations, and its significance has recently increased as a result of the great expansion in the activities of multinational companies and their spread across various countries. This development has produced complex legal challenges concerning how to deal with bankruptcy cases of a cross-border nature, which necessitates an in-depth study to find legal solutions that correspond to the particularity of these companies and their influential role in the global economy. International bankruptcy raises the problem of determining the effects of a bankruptcy judgment at the international level. Jurists have sharply disagreed on this matter: one group advocates the theory of universal bankruptcy, while another supports the theory of territorial bankruptcy. These two approaches have also found resonance in national laws, judicial rulings, and international treaties. Furthermore, financial crises in all their aspects have significantly altered the legal system of bankruptcy. The idea of separating the merchant from commercial activity in general has emerged, and a balance has been established between conflicting interests and the protection of creditors’ rights. Bankruptcy has thus become a realistic process, whereby declaration is no longer made merely upon the suspension of payment of a single debt, but rather upon the existence of evidence proving the collapse of the financial position of the merchant whose bankruptcy is sought

الكلمات المفتاحية: Impact, Bankruptcy, Multinational Corporations, Headquarters

اقرأ البحث

تحميل الأثر المتبادل لإفلاس الشركات متعددة الجنسيات (Arabic)

معلومات النشر

كيفية الاقتباس

Radwan Hashim. "The reciprocal impact of multinational corporate bankruptcies". College of Law, Sumer University, %2026.