ARBITRATION AND INSOLVENCY PROCEEDINGS: CLAIMS OF ORDINARY BANKRUPTCY CREDITORS ( Vesna Lazic (T.M.C. Asser Institut, The Hague Readers are reminded that this work is protected by copyright While they are free to use the ideas expressed in it, they may not copy, distribute or publish the work or part of it, in any form, printed electronic or otherwise, except for reasonable quoting, clearly indicating the source. Readers are permitted to make copies, electronically or printed, for personal and classroom use Contents 2. Insolvency and arbitration: Main features and basic principles 2. 1 Insolvency law 2.2 Arbitration 3. Binding effect of arbitration agreements concluded prior to the commencement of bankruptcy proceedings 3. 1 France and the Netherlands 3.2 United States 4. Claims of ordinary bankruptcy creditors 4. 1 Preclusion of individual actions by ordinary creditors 41.1 france 4.1.2 The Netherlands 4.1.3 United States 4. 2 Applicability of the stay of individual actions in arbitration 4.3 Implications of the stay of individual actions in arbitration 43.1 Admitted claims 4.3.2 Contested claims 4.3. 2 1 Pending arbitral proceedings 4.3.2.2 Non-pending arbitrations 4.3.2.2. 1 Non-arbitrability of contested claims 4.3.2.2. 2 Modalities of enforcement of arbitration agreements( france) 4.3.2.2. 3 The discretion of the courts in bankruptcy(United States) 5. Conclusion 1. Introduction Insolvency and arbitration are two different types of procedures, each having its own purpos objectives and underlying policy. A very distinct nature of the two is probably the reason why the relationship between them is seldom scrutinized in the legal writings and often reduced to theARBITRATION AND INSOLVENCY PROCEEDINGS: CLAIMS OF ORDINARY BANKRUPTCY CREDITORS (1) Vesna Lazic (T.M.C. Asser Institut, The Hague) Readers are reminded that this work is protected by copyright. While they are free to use the ideas expressed in it, they may not copy, distribute or publish the work or part of it, in any form, printed, electronic or otherwise, except for reasonable quoting, clearly indicating the source. Readers are permitted to make copies, electronically or printed, for personal and classroom use. Contents 1. Introduction 2. Insolvency and arbitration: Main features and basic principles 2.1 Insolvency law 2.2 Arbitration 3. Binding effect of arbitration agreements concluded prior to the commencement of bankruptcy proceedings 3.1 France and the Netherlands 3.2 United States 4. Claims of ordinary bankruptcy creditors 4.1 Preclusion of individual actions by ordinary creditors 4.1.1 France 4.1.2 The Netherlands 4.1.3 United States 4.2 Applicability of the stay of individual actions in arbitration 4.3 Implications of the stay of individual actions in arbitration 4.3.1 Admitted claims 4.3.2 Contested claims 4.3.2.1 Pending arbitral proceedings 4.3.2.2 Non-pending arbitrations 4.3.2.2.1 Non-arbitrability of contested claims 4.3.2.2.2 Modalities of enforcement of arbitration agreements (France) 4.3.2.2.3 The discretion of the courts in bankruptcy (United States) 5. Conclusion Notes 1. Introduction Insolvency and arbitration are two different types of procedures, each having its own purpose, objectives and underlying policy. A very distinct nature of the two is probably the reason why the relationship between them is seldom scrutinized in the legal writings and often reduced to the