The decade since the financial crisis has witnessed a proliferation of various ‘light touch’ financial restructuring techniques in the form of so-called pre-insolvency proceedings. These proceedings inhabit a space on the spectrum of insolvency and restructuring law, somewhere between a pure contractual workout, the domain of contract law, and a formal insolvency or rehabilitation proceeding, the domain of insolvency law. While, to date, international insolvency instruments have tended to define insolvency proceedings quite expansively, discussion of the cross-border implications of pre-insolvency proceedings has barely begun. The question is whether pre-insolvency proceedings should qualify as proceedings related to insolvency for the purpose of private international law characterization. The risk is over-inclusivity of cross-border insolvency law, which, where it is based on universality and unity, might defeat contractual expectations. This article argues, however, that we should be slow to exclude pre-insolvency proceedings from cross-border insolvency law: these proceedings are initiated in the zone of insolvency, their effectiveness depends on a statutory mandate and not purely on private ordering, they interact and intersect with formal proceedings, and can benefit from the unique system developed by cross-border insolvency law. We suggest, though, that modified universalism (the leading norm of cross-border insolvency) and international insolvency instruments, should, and are able to, adjust to the peculiarities of pre-insolvency proceedings to address concerns about inclusivity and accommodate pre-insolvency proceedings adequately.

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国际私法中破产前程序的特征

自金融危机以来的十年见证了以所谓的破产前程序的形式出现的各种“轻触式”金融重组技术的激增。这些程序位于破产和重组法的范围内，介于纯合同解决（合同法领域）和正式破产或恢复程序（破产法领域）之间。虽然迄今为止，国际破产文书倾向于对破产程序进行相当广泛的定义，但对破产前程序的跨境影响的讨论才刚刚开始。问题是，就国际私法定性而言，破产前程序是否应符合与破产有关的程序的资格。风险在于跨境破产法的包容性过强，如果该法基于普遍性和统一性，则可能会挫败合同预期。然而，本文认为，我们应该缓慢地将破产前程序排除在跨境破产法之外：这些程序是在破产区域启动的，其有效性取决于法定授权，而不仅仅是私人订购，它们相互作用并与正式程序相交，并可受益于跨境破产法制定的独特系统。不过，我们建议修改后的普遍主义（跨国界破产的主要规范）和国际破产文书应该并且能够：