When the insolvency proceedings have been filed in a country different from the place of arbitration (cross-border insolvency), the arbitrators face difficult questions, including those referring to the effects of the foreign insolvency proceedings on the arbitration pending. . This paper discusses whether cross-border insolvency can be a per se obstacle to international arbitration, and whether there are foreign insolvency laws that can neutralize pending arbitration proceedings. . This paper emphasizes the importance of correctly characterizing issues arising in cross-border insolvency/arbitration. . The relevance of correct characterization is illustrated by the . Vivendi/. Elektrim dispute, which led to conflicting decisions in . England and . Switzerland. . This paper also analyzes whether foreign insolvency provisions limiting a tribunals jurisdiction may be applied as mandatory rules.