UNCITRAL text on obligations of directors of enterprise group companies in the period approaching insolvency

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

  • UNCITRAL text on obligations of directors of enterprise group companies in the period approaching insolvency
  • CORONAVIRUS (COVID-19)
  • Text on obligations of directors of enterprise group companies in the period approaching insolvency: status
  • Geographical reach
  • Rationale
  • Practical examples of cross interests
  • Scope
  • Interpretation
  • Nature of directors’ obligations
  • Conflict of obligations
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UNCITRAL text on obligations of directors of enterprise group companies in the period approaching insolvency

CORONAVIRUS (COVID-19)

This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19) toolkit and Practice Note: Coronavirus (COVID-19) Tracker of insolvency reforms globally [Archived] which shows various amendments to directors’ duties across the globe in light of the coronavirus pandemic. For related news, guidance and other resources to assist practitioners working on restructuring and insolvency matters, see: Coronavirus (COVID-19)—Restructuring & Insolvency—overview.

Text on obligations of directors of enterprise group companies in the period approaching insolvency: 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 and text on obligations of directors of enterprise group companies in the period approaching insolvency (the Directors’ Guide) were both approved and adopted by the UN Commission on International Trade Law (the Commission) at the 53rd session (New York, 6–17 July 2019) (see A/74/17—Report of the United Nations Commission on International Trade Law fifty-second session (advance copy)).

The Directors’ Guide is an additional section in part four of the UNCITRAL Legislative Guide on Insolvency law dealing with directors’ obligations (see Practice Note: UNCITRAL guidance on directors' obligations in the period approaching insolvency). UNCITRAL recommends

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