Trusts within the Scope of Cross-border Insolvency

This study seeks to review the institution of a trust under cross-border insolvency. The author sets as his task the articulation of the problems that arise when considering disputes about a trust complicated by a foreign element in cross-border bankruptcy. The work consistently resolves issues of determining ownership of assets of a trust. The consequences of the lack of systemic regulation of the trust are shown, and conflict inconsistencies arising in connection with a different approach to the regulation of the trust are indicated. The study also shows the point of intersection of the institute of trust and cross-border insolvency by presenting examples of misuse of the trust in anticipation of bankruptcy. The results of the study provide an answer to the question of the possibility of foreclosure on the assets of a trust. Also problems of the applicable law are articulated by showing the competition between bankruptcy law (lex fori concursus) and the law determined in accordance with the autonomy of the parties. Author developed a mechanism for working with the institution of trust in cross-border bankruptcy and create a foundation for future research.