Chapter 15 Cross-Border Insolvency Means Comity And Cooperation; Not Necessarily Comedy And Concern

After taking the last train into the small Italian town of Vernazza, my travelling party soon came to realize that our booked inn had given away our rooms and that there were no available rooms in town and no more trains out. Facing language barriers, cultural barriers, and the real risk that we may be stuck overnight on the streets in a foreign place, it appeared we were without remedy. After much anxiety, an older lady, realizing our distress, mumbled some Italian to us and signaled for us to follow her to the basement where she would allow us to stay. Relief, protection, and gorgeous views out over the Mediterranean Sea!

Today, more likely than not, your business or business client is engaged in international business, whether it is foreign operations and ventures, importing or exporting products, or investments in foreign businesses. There is an allure to these international endeavors and potentially big profits too. Many find international business to be natural extensions of their domestic interests but also realize that there are common and unique...