UNCITRAL Model law on enterprise group insolvency

The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:

  • UNCITRAL Model law on enterprise group insolvency
  • UNCITRAL Model Law on enterprise groups: current status
  • Geographical reach
  • Objectives
  • Scope
  • Exclusions
  • Interpretation
  • Reciprocity
  • Cooperation and coordination
  • Group representative
  • More...

UNCITRAL Model law on enterprise group insolvency

UNCITRAL Model Law on enterprise groups: current status

The UNCITRAL Model Law on enterprise groups (MLEG) was approved by Working Group V (the UNCITRAL working group dealing with insolvency issues) at their 54th session (Vienna, 10–14 December 2018). The supporting guide to enactment was approved at its 55th session (New York, 28–31 May 2019) and was forwarded to the UN Commission on International Trade Law (the Commission) for finalization and adoption at the 53rd session (New York, 6–17 July 2019) (see UNCITRAL report of 52nd session). The UN Commission has finalised and adopted all the texts without modification. Countries are free to enact it either in full or in part, with or without modifications, so it is essential to look at the relevant enacting legislation in detail. It doesn't have automatic effect but needs specific enacting legislation in each country. England has not yet adopted MLEG and the comments below relating to the effect in England are relevant only if England decides to enact domestic legislation adopting MLEG.

The Insolvency Service annual plan 2020 to 2021 says that it will publish a guide for insolvency practitioners that will assist them when administering pan-European insolvency cases. During the year, they will also consult on the implementation in the UK of two new Model Laws adopted by the United Nations Commission on

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