Insolvency jurisdiction in the conflict of laws of Malawi, the USA and the EEC

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Periodical article

Title:	Insolvency jurisdiction in the conflict of laws of Malawi, the USA and the EEC
Author:	Nzunda, Matembo
Year:	1991
Periodical:	Annual conference - African Society of International and Comparative Law
Volume:	3
Pages:	229-246
Language:	English
Geographic term:	Malawi
Subjects:	conflict of laws bankruptcy
Abstract:	Malawi is a member of the SADCC and the PTA. These regional groupings are likely to increase intraregional trade. When traders fail their creditors in any of the countries belonging to these two regional groups, the insolvency laws of these countries will be called upon to provide solutions. This article shows that the insolvency law of Malawi is in urgent need of reform. It compares Malawi's insolvency law, which is in substance the same as English insolvency law, with that of the USA and the EC in order to see how these different legal systems deal with the problem of balancing the protection of the creditors against that of the debtor, notably in situations of conflict of laws. The author recommends that the concept of acts of insolvency be abolished in Malawian law and replaced by the concept of the debtor's inability to pay his debts. This would bring the law of Malawi into line with US law. Notes, ref.