The United States Bankruptcy Law Reform And Enlightenment Of International Cooperation In Cross-border Insolvency

No one will doubt a truth that there is rise, there is fall, especially in economic life. As the great trend of the globalization of economy and trade, a lot of transnational companies stuck in financial difficulties, then have to file for bankruptcy, which are cross-border bankruptcies. The situation is even worse since the economic crisis broke out by the end of 2008, and even till now hasn't show any signs of full recovery of the world economy. There are seldom experiences for the bar circle to follow. Since the international business is flourishing than even before, but the pity is no such a fast growing legal system to serve the economy. Absolutely, there is a need to set up an effective and unified legal system to preside over the cross-border bankruptcies.As the number one super-power of the world in light of the economy, the United States of American has got a lot of multinational enterprises in its economic, there it has got rich experiences in Bankruptcy- law-making, moreover, in the year of 2005, the Congress enacted the amendments of American Bankruptcy Code On Cross-border Bankruptcy, which could serve as example for other countries to make their own law to handle with the transnational bankruptcy.This thesis is going to survey the amendments to cross-border bankruptcy laws of American, and study cases to analyze how the system works on transnational bankruptcy cases. The first part is to present a general structure and institution of the American bankruptcy law system; the second part is to explore in the amendments to American bankruptcy law; the third part is to sum up how the American bankruptcy law works on transnational bankruptcy cases and how has it set a model for other countries to follow, and hope this could be useful to facilitate future legislation of cross-border bankruptcy law of our country.