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transnational law transnational law (lex mercatoria or international business law) and "No suspension in case of bankruptcy of a party" 2016-03-01 13:58:16

No. XIII.3.7 - No suspension in case of bankruptcy of a party

Arbitration proceedings are not suspended if one of the parties goes bankrupt.

The Principle is based on the fact that the insolvency administrator is bound by the arbitration agreement concluded by the debtor prior to the insolvency and that the arbitration proceedings which are pending at the moment when the insolvency occurs under the applicable insolvency law may continue despite the insolvency.

Please cite as: "Commentary to Trans-Lex Principle , "
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