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Paper Title
HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY
Authors
Anushu Priya Yadav , Dr. Monica Kharola
Keywords
cross- border insolvency. UNCITRAL model law, globalization, creditors rights, international legal framework and judicial cooperation
Abstract
In the Globalized Economy the cross-border insolvency has become a common issue, where the businesses operate in the multiple countries and financial activities are interconnected with each other. When any company with assets or creditors in different countries becomes insolvent or legal complications arise due to the differences in the nationals 'laws and procedures. Then this makes the resolution process become slow, complex and often unfair to the stakeholders.
In the cross-border insolvency the UNCITRAL Model Law was introduced to address these challenges by providing a uniform legal framework for the cooperation between the countries. It provides a coordination among courts ,ensure the fair treatment of the creditors and improve the efficiency in the insolvency proceedings. The UNCITRAL Model Law focuses on the key concepts such as access to the foreign courts, recognition of the foreign proceedings and the cooperation between the Judicial authorities.
This paper examines the role of the UNCITRAL Model Law in managing the cross-border insolvency in the Globalized world. It analysed how the UNCITRAL Model Law helped in reducing the conflicts between the jurisdictions and facilitating the smoother resolution of the international insolvency cases. This Paper also highlights the Legal Framework of different countries, challenges and the future direction in globalized economy and certain limitations for example differences in implementations by countries and concerns related to the national sovereignty. It plays a significant role in the improving the international insolvency systems.
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IJCRT — journal style
"HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY", IJCRT - International Journal of Creative Research Thoughts (www.ijcrt.org), ISSN:2320-2882, Vol.14, Issue 4, page no.c348-c353, April 2026, Available :https://ijcrt.org/papers/IJCRT2604282.pdf
APA — 7th edition
Yadav, A. P., & Kharola, M. (2026). HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY. International Journal of Creative Research Thoughts, 14(4), c348-c353. https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282
MLA — 9th edition
Yadav, Anushu Priya, and Monica Kharola. "HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY." International Journal of Creative Research Thoughts, vol. 14, no. 4, 2026, pp. c348-c353, https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282.
Chicago — 17th, bibliography
Yadav, Anushu Priya, and Monica Kharola. "HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY." International Journal of Creative Research Thoughts 14, no. 4 (2026): c348-c353. https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282.
Harvard — author–date
Yadav, A.P. and Kharola, M. (2026) 'HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY', International Journal of Creative Research Thoughts, 14(4), pp. c348-c353. Available at: https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282
IEEE — numbered reference
A. P. Yadav and M. Kharola, "HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY," IJCRT, vol. 14, no. 4, pp. c348-c353, Apr. 2026.
Vancouver — biomedical
Yadav AP, Kharola M. HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY. IJCRT. 2026 Apr;14(4):c348-c353.
AMA — 11th edition
Yadav AP, Kharola M. HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY. IJCRT. 2026;14(4):c348-c353. Accessed at https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282
BibTeX — Zotero, Mendeley, LaTeX
@article{IJCRT2604282,
author = {Anushu Priya Yadav and Monica Kharola},
title = {HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY},
journal = {International Journal of Creative Research Thoughts},
volume = {14},
number = {4},
pages = {c348-c353},
year = {2026},
month = {April},
issn = {2320-2882},
url = {https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282}
}
RIS — EndNote, RefWorks
TY - JOUR
AU - Yadav, Anushu Priya
AU - Kharola, Monica
TI - HARMONIZING THE CROSS-BORDER INSOLVENCY: LEGAL FRAMEWORKS, CHALLENGES AND FUTURE DIRECTION IN THE GLOBALIZED ECONOMY
T2 - International Journal of Creative Research Thoughts
JA - IJCRT
VL - 14
IS - 4
PY - 2026
SN - 2320-2882
UR - https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282
SP - c348-c353
ER -
Issue
Volume 14 Issue 4,
April-2026
Pages : c348-c353
Article Information
- Pages
- c348-c353
- Published
- April 2026
- Registration ID
- IJCRT_304854
- Published Paper ID
- IJCRT2604282
- Research Area
- Management All
- Author Type
- Indian Author
- Location
- Vaishali, Bihar, India
- Peer Review
- Request Peer Review Report
- Licence
- CC BY 4.0 · Open Access
- ISSN & Impact Factor
- 2320-2882 · IF 9.17
- Downloads
- 176
- Permanent Link
- https://ijcrt.org/viewpaperforall.php?paper=IJCRT2604282
- Published Paper PDF
- https://ijcrt.org/papers/IJCRT2604282.pdf
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