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 R. EMERJ, Rio de Janeiro, v. 19, n. 74, p. 9 - 65. 2016  40
cional dos grupos societários, haja vista que a existência de processos de
insolvência autônomos, coordenados em prol da maximização das distri-
buições, evitaria os problemas decorrentes da aplicação do universalismo.
Desse modo, em seu sistema, cada caso seria analisado especificamen-
te pelos órgãos de cada procedimento doméstico, podendo levar a uma
maior ou menor integração (cooperação) entre as unidades autônomas
do grupo, a depender das peculiaridades do grupo societário analisado83.
Com o intuito de demonstrar a melhor adequação do territorialis-
mo cooperativo para casos de insolvência transnacional, Lynn LoPucki re-
corre ao caso KPNQwest, citando lição de Robert van Galen:
"The KPNQwest group owned cables in Europe and across
the Atlantic Ocean, the main ones being in the form of rings.
For example, one ring can ran through Germany, France, Bel-
gium and The Netherlands, connecting major cities in these
countries. However, the part of the ring that was situated in
Germany was owned by a German subsidiary, the part of the
ring situated in France by a French subsidiary, and so forth.
When the Dutch parent company, KPNQwest N.V., went into
bankruptcy many of the subsidiaries had to enter insolvency
proceedings as well. […] the trustees of the Dutch bankruptcy
did not hold any powers with respect to bankrupt subsidia-
ries in other member states, and it proved to be very difficult
to coordinate the sale of the rings. As it turned out, the KPN-
Qwest group disintegrated and it is likely that the proceeds of
the sale of the assets were much lower than they would have
been if the enterprise had been sold as a whole".84
O autor conclui que o universalismo falhou nesse caso. Se fosse
analisado pela égide do territorialismo cooperativo, segundo o professor
83 “It is worth noting that the corporate group problem is easily solved in a cooperative territorial system. A coope-
rative territorial system is one in which each country’s courts administer the assets located in the country and autho-
rize a representative to cooperate with representatives appointed in foreign proceedings. In a cooperative territorial
system, once cases were filed and representatives appointed in each of the countries involved, the representatives
could meet to determine whether cooperation could increase the total recovery of the group. In most cases, the
answer would be no, because the group was compartmentalized by country prior to bankruptcy. If the answer were
yes, the negotiators should be able to reach agreement for the simple reason that they could share the increase
in recovery among them”. LOPUCKI, Lynn M. "Global and Out of Control?". American Bankruptcy Law Journal. v.
79 (Junho, 2005), p. 14-15. Disponível em: . Acesso
em: 16.05.2016.
84 GALEN, Robert Van. "The European Insolvency Regulation and Groups of Companies" apud LOPUCKI, Lynn M.
"Global and Out…", p. 15.