Читать книгу Retos y desafíos de las garantías reales - Abel B. Veiga Copo - Страница 48

Where insolvency proceedings are commenced in one State and the debtor’s assets or creditors are in another State or where insolvency proceedings are commenced on more than one State, because the debtor is a multinational enterprise, the question arises as to the applicable law, the law applicable to insolvency (lex fori concursus) or the law applicable to security interests outside insolvency. If, upon insolvency, the law applicable to security interests changes, this is bound to have an adverse impact on the availability and the cost or credit.

The Insolvency Guide recognizes that insolvency law may provide for an exception to the application of the lex fori concursus on security interests in insolvency, but recommends that any exceptions in addition to those provided for payment or settlement systems or regulated financial markets and labour contracts should be limited in number and clearly set out in insolvency law31.