May 20, 2013 -- UCLA School of Law student Barry Chang ’14 is the Bronze Medal winner for the III 2013 Prize in International Insolvency Studies. Chang, who is pursuing a joint J.D./M.B.A degree, won the International Insolvency Institute’s prize for his article “Making a Comedy of Comity: Analyzing In re Vitro’s Implications for Cross-Border Insolvency Law.”
Chang’s paper discusses the potential implications of a recent decision in which the Fifth Circuit, in an unprecedented move, refused to recognize in a United States bankruptcy court a Mexican court order confirming a Mexican plan of reorganization. The paper argues that the Fifth Circuit failed to appropriately perform the analysis required in determining whether comity should be extended based on the case law and legislative history of chapter 15. The paper also discusses a number of potentially serious political and economic ramifications of the Fifth Circuit’s disregard of established comity principles. In addition to receiving an honorarium, Chang’s article will be posted on the institute’s website at www.iiiglobal.org and will be considered for publication in the Norton Journal of Bankruptcy Law and Practice.
The International Insolvency Institute awards the III Prize for original research, commentary or analysis on topics of international insolvency and restructuring significance and on comparative international analysis of domestic insolvency and restructuring issues and developments. Entries are judged by a distinguished panel of leading international insolvency academics and practitioners.