Modified universalism for cross-border insolvencies : does it work in practice?
Bibliographic record
Abstract
This thesis is a study of the application by courts of Canadian and British versions of the UNCITRAL Model Law on Cross-Border Insolvency. The Model Law proposes a legal framework that has as its theoretical foundation the modified universalism theory. By trying to determine whether the application of the Model Law provisions on core concepts of this Law promotes such goals as efficiency, fairness, predictability and protection for local interests in cross-border insolvency cases, this study ultimately assesses whether modified universalism works in practice. Modified universalism is a relatively new theory for the resolution of cross-border insolvencies that gained international and national acceptance two decades ago. It recognizes that a cross-border case should be administered under a single controlling insolvency proceeding governed by the laws of the country commencing that proceeding. However, the theory allows countries other than the country where the insolvency proceeding was commenced, before giving deference to the controlling proceeding, to determine whether such an act of cooperation would infringe on local interests. On the one hand, the centralization of the administration of a cross-border insolvency case is thought to bring efficiency, fairness and predictability to this process. On the other hand, because of the diversity of national insolvency laws, a centralization of the administration of such cases may infringe on local interests, such as the interest to protect the legitimate expectations of creditors or to further fundamental local public policies. The success of the Model Law, and ultimately of the modified universalism theory, depends on how courts strike a balance between these goals when considering requests for recognition of foreign insolvency proceedings and for relief in favor of these proceedings. The study concludes that the Canadian and British courts’ decisions strengthen rather than weaken the claim that the Model Law works in practice. Such a conclusion in turn suggests that modified universalism can serve as the theoretical foundation of a workable legal framework for the resolution of cross-border insolvencies. This finding may be important for countries that consider revising their cross-border insolvency laws in an effort to facilitate the administration of cross-border insolvency cases.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.037 | 0.104 |
| Meta-epidemiology (narrow) | 0.000 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.002 | 0.002 |
| Science and technology studies | 0.009 | 0.045 |
| Scholarly communication | 0.012 | 0.020 |
| Open science | 0.004 | 0.009 |
| Research integrity | 0.010 | 0.010 |
| Insufficient payload (model declined to judge) | 0.010 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".