국제도산절차와 병행도산 - 2006년 일본 麻布(Azabu)건물 주식회사 도산사건을 중심으로 -

In Korea, from 2006, the new era of bankruptcy law governing international insolvency began. The previous three bankruptcy laws - Bankruptcy Act, Composition Act, and Corporate Reorganization Act - have been merged into, and were replaced by, the Debtor Rehabilitation and Bankruptcy Act of Korea. One of the most important changes on the Act (DRBAK) is the introduction of “universalism” of an international insolvency part. Although Korea established new universalism system with respect to international insolvency problems, the research and the study of effects and values of new system is still necessary. Cross-border insolvency cases can involve either a single case where the debtor's assets are located in multiple jurisdictions or the insolvency of multiple members of a cross-border group resulting in concurrent insolvency proceedings in multiple jurisdictions. In both scenarios, perhaps the main point of legal tension and complexity arises from the fact that fundamental principles of national sovereignty prevent a bankruptcy court in one jurisdiction from compelling the application of its law in another jurisdiction. Consequently, courts must rely on international comity to give effect to their rulings that affect parties and assets outside their jurisdiction. This Paper introduces international insolvency law regime, especially Japanese case involving cooperation and coordination of concurrent proceedings. Secondly, by comparing U.S. Bankruptcy Code Chapter 15 and Japanese Law of cooperation and coordination of concurrent proceedings under Korean legal system, the Paper proposes that international suitability and global fitness in international insolvency regime in Korea.