Abstrakt
Regulation No. 1346/2000 on insolvency proceedings, in force since 31st May 2002, was adopted for the purpose of enactment of complex law on cross-border insolvency. Newly introduced institution of automatic recognition of judgments on insolvency proceedings was designed to eliminate obstacles, stemming from territorial limitations, to their binding force. As a result, a need has emerged to provide a conflict law framework for certain issues arising out of cross -- border insolvency within the assets of an insolvent. For this purpose, the question of effects of the opening of insolvency proceedings on a pending lawsuit, concerning an asset or a right of which the debtor has been divested, became subject to a separate conflict rule. Pursuant to art. 15 of the Regulation, it is the law of the Member State in which that lawsuit is pending that governs the effects of insolvency on that lawsuit. The question whether that provision also encompasses lawsuits pending before arbitral tribunals will be approached in hereby article. The issue of the law applicable to the effects of opening of insolvency on arbitral proceedings, concerning the insolvency estate, has been an object of many controversies in both literature and practice of international commercial arbitration. The author makes an attempt to briefly present the opinions expressed therein and to draw some conclusions in this respect. In view of the structure of the article, the international commercial arbitration approach to the question of the law applicable to the effects of insolvency proceedings on pending arbitration should be considered as an introduction to more detailed comments on the Regulation 1346/2000 and to presentation of the European law perspective.