Abstract

Many of the world’s banks have operations, if not branches or agencies, in the United States. When these banks fail, their U.S. operations and assets are subject to a confused, and confusing, patchwork of insolvency laws, both federal and state. This essay examines that legal patchwork, asking whether it is desirable, much less efficient, for a nation to have an inconsistent foreign-bank insolvency regime. The essay does not attempt to provide final answers but, instead, focuses on identifying the threshold conceptual issues that must be resolved before attempting to provide answers.

Submitted: December 28, 2004 · Accepted: February 7, 2005 · Published: April 1, 2005

Recommended Citation

Schwarcz, Steven L. (2005) "The Confused U.S. Framework for Foreign-Bank Insolvency: An Open Research Agenda ," Review of Law & Economics: Vol. 1 : Iss. 1, Article 6.
Available at: http://www.bepress.com/rle/vol1/iss1/art6