Pericles American Business and Legal Education
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Course Application


Transnational Bankruptcy

Over the last few decades, business and commercial practices have become somewhat uniform across borders. Clearly, international business needs some uniformity to tackle trans-border financial defaults. As yet, no uniform global bankruptcy laws exist; but as common issues emerge, world legal systems largely turn to the U.S. bankruptcy system as a model. The U.S. bankruptcy system is well-developed to address all or most issues arise.

This course addresses the cross-border insolvency practices from the perspective of the U.S. bankruptcy model. It explores practices and issues connected even in small ways to operational presence in the United States. Students will gain cross-border insolvency insights for the entire spectrum of business existence, including business forms, formations, operations, agreements, financial defaults, creditor rights, collections, and closings.

When a business has assets, obligations, clients, customers, and/or vendors in multiple countries, the question of protection proceedings arises in multiple jurisdictions. While it is possible to simply call a local attorney after a foreign financial default has occurred, this class aims to give students the skills to avert altogether or at least minimize losses from a default, well-before the default occurs.

The course will also use the insolvency system of the United Kingdom to provide comparative insights beyond what the U.S. legal system offers.


Admission to the Pericles LL.M. program or permission of the Dean upon evaluation of English language and legal skills.  

Course Length:

36 clock hours over 12 weeks, meeting once per week for three hours at a time, with a five minute coffee break.


The course is interactive, using multiple cases and problem solving hypotheticals to ensure that students gain practical understanding and skills.


1. Bankruptcy Fundamentals (3 hours)
2. Introduction to US Bankruptcy (9 hours)
3. Types of US Bankruptcies (6 hours)
4. Trustees and Debtors in Possession (3 hours)
5. Remedies Beyond Bankruptcy (3 hours)
6. Transborder Ramifications (12 hours)


This is a three credit course in Pericles' Ll.M. program. There is a paper requirement and an exam.