Update on UNCITRAL Insolvency Working Group
The Insolvency Working Group of the United Nations Commission on International Trade Law has been working on three new model laws and considering work on at least two possible future projects. The authors of this article provide an update on these activities.
The Insolvency Working Group of the United Nations Commission on International Trade Law (“UNCITRAL”) has been busy this past year, working on three new model laws and considering work on at least two possible future projects. The Insolvency Working Group is responsible for drafting the Model Law on Cross-Border Insolvency (the “CBI Model Law”) in 1997, which has since been adopted in 46 countries and is under consideration in several others. In 2005, the United States adopted the CBI Model Law as Chapter 15 of the United States Bankruptcy Code.
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“Update on UNCITRAL Insolvency Working Group,” by Rick Antonoff and Evan J. Zucker was published in the October 2019 edition of Pratt’s Journal of Bankruptcy Law, an A.S. Pratt Publication, LexisNexis. Reprinted with permission.
This article was first published in the June 2019 edition of Mainbrace, Blank Rome’s quarterly maritime newsletter.