UNCITRAL Model Law on Cross-Border Insolvency With Guide to Enactment and Interpretation

UNCITRAL Model Law on Cross-Border Insolvency With Guide to Enactment and Interpretation Synopsis

The publication includes a new Guide to Enactment and Interpretation of the Model Law on Cross-Border Insolvency that provides more information and guidance on the interpretation and application of selected aspects of the Model Law, in particular the concept of the debtor's "centre of main interests" and the factors relevant to rebuttal of the presumption in article 16(3), the use of the word "insolvency" in the Model Law and various elements of the definition of "foreign proceeding" in article 2. The revisions do not in any way affect the text of the Model Law as drafted.