In Part I of this book, the problems of international insolvency were
examined from the standpoint of the rules and procedures developed at
national level, and administered by the courts and agencies established
within individual legal systems. The primary focus was upon English law,
supplemented by references to the laws of other leading representatives of
the common law tradition, namely Australia, Canada, and the USA. While
each system now has its own distinctive characteristics, it is possible to
discern a number of shared, fundamental principles. These are partly a
reflection of the common heritage from which the four systems have
evolved. But in their current tendencies they also reflect the growing
perception among those whose vocation it is to address the issues of cross-
border insolvency in some way, that a genuinely internationalist spirit
must be an essential part of the approach. In an age of globalisation, it is
neither prudent nor realistic to adopt an insular philosophy when con-
fronted by such challenges. This trend of thought is most clearly demon-
strated by the legislative innovations which have been introduced during
the past twenty years in each of the four jurisdictions referred to, and
which were explored in Chapter 4. In their different ways, each system has
sought to address the problems raised in a multi-jurisdictional insolvency
by entrusting its courts with enhanced powers of assistance and coopera-
tion with their foreign counterparts, or with foreign representatives con-
ducting insolvency proceedings commenced abroad.

An important feature of the provisions empowering courts to provide
international cooperation and assistance is that they include a substantial
element of discretion and selectivity of response. This is essential in order
to allow each case to be dealt with on its individual merits, and in response
to its particular requirements, while respecting the overall standards and
principles of the system from which that assistance is provided. When
such enabling provisions in national legislation are combined with a pos-
itive spirit of judicial activism, impressive results can be achieved in alle-
viating the inevitable economic discomfort of those caught up in an

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