International Insolvency: The Case of Herstatt 62 American Bar Association Journal 1976

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62 A.B.A. J. 1290 (1976)
International Insolvency: The Case of Herstatt

handle is hein.journals/abaj62 and id is 1292 raw text is: International
Insolvency:
The Case of
.Herstatt

When German authorities ordered the Herstatt bank
closed in June, 1974, creditors started a race for the
remaining assets.,Those assets located in New
York in the Chase Manhattan Bank, N.A., became
the target of creditors from around the world.
Finally, all the parties agreed to a liquidation plan.
But one of the lessons may be that international
law should develop a method of dealing with
international bankruptcies of this scale.

(ABOVE) Candida Photography
(RIGHT) United Press International Photography
1290 American Bar Association Journal