Cross-border bankruptcy: concept, regulation, main problems

Question 1. Cross-border bankruptcy is tend to

• A. Increase

• B. Decrease

• C. Stay at the same level

• D. Doesn't exist

Question 2. What is the main complexity of cross-border bankruptcy?

• A. each state has its own national rules govering bankruptcy issues

• B. there is no international element in cross-border bankruptcy

• C. private law can effectively solve arising issues

• D. there is no such term as 'creditors' in some countries

Question 3. There is a general international act regulating the issues of cross-border bankruptcy

• A. False

• B. True

Question 4. Convention that solves some tasks on cross-border bankruptcy was created in

• A. 1995

• B. 1997

• C. 2000

Question 5. Which of the following statements are true?

• A. Draft agreement on cross-border insolvency was prepared in 1995

• B. Model law on cross-border insolvency was prepared by UNCITRAL

• C. Model law on cross-border insolvency is regulating information exchange only

• D. Draft agreement on cross-border insolvency is based on the combined approach

Question 6. The court ruled in favor of the bank in practical part.

• A. True

• B. False

Question 7. How to solve the problems of cross-border insolvency regulation?

• D. It is impossible

• C. Punish states for its desire to protect its public interests

• E. Disable cross-border business

• B. Unite all states into one

• A. Achieve international unification of the regulation of cross-border bankruptcy