Part III The Impact of Freedom of Establishment on Private International Law for Insolvency, 8 Regulatory Competition for Insolvencies

8.01 It is typical of the law in the USA that if a matter becomes highly controversial among States, the federal government will intervene and harmonize the law. This was the case with insolvency law in the United States which was finally federalized under the Nelson Act 1898 after several continuous enactments and repeals of federal bankruptcy statutes throughout the nineteenth century.1 Thus, there has not been a chance to test whether Romano’s view on the virtues of federalism can be applied to insolvency law. In fact, there appears to have been no recorded...