ANNEX Draft articles of the UNCITRAL Model Legislative Provisions on Cross Border Insolvency 41 INTRODUCTION

Those instances include cases where the insolvent debtor has assets in more than one State or where among the creditors of the debtor there are some that are not from the State where the insolvency proceeding is taking place.

National insolvency laws have by and large not kept pace with the trend, in that they are often ill equipped to deal with cases of a cross border nature.

Indeed, at its thirtieth session, it had adopted its draft Model Legislative Provisions on Cross Border Insolvency, which should facilitate judicial cooperation and provide better means for national courts to deal with cases of cross border insolvency.

ONUB has documented 43 cases of looting and destruction of civilian property by all parties.

No cases, no money, ruined.

The other three, the International Statement of United States Bankruptcy Law, International Statement of Canadian Bankruptcy Law, and International Statement of Mexican Bankruptcy Law describe the bankruptcy laws of the three NAFTA States, and set out principles governing multinational insolvency cases which involve assets located in one or more of the three NAFTA countries.

It was also noted that a number of jurisdictions did not enquire as to the nature of the debtor s debts for insolvency purposes, nor did they exclude consumers or other individuals from the ordinary insolvency regime.

The two dominant issues were the practice of judicial cooperation in cross border insolvency cases and the draft Model Provisions as prepared by the Working Group.

And before you know it... the case is solved.

(a) cooperation between the courts and other competent authorities of this State and foreign States involved in cases of cross border insolvency

(a) cooperation between the courts and other competent authorities of this State and foreign States involved in cases of cross border insolvency

You know why you couldn't figure this one, Keyes?

On the same day, a group of 200 villagers from Kompong Trach district, visibly encouraged by the district authorities, forcibly entered the provincial court in Kampot, ransacked it, destroying property and burning numerous court case files and documents.

quot (a) cooperation between the courts and other competent authorities of this State and foreign States involved in cases of cross border insolvency

(58) The insolvency law should permit the insolvency representative to sell assets that are encumbered or subject to other interests free and clear of those encumbrances and other interests, outside the ordinary course of business, provided that

I was broke, facing bankruptcy.

C. Restitution in cases of substantial harm to the environment 28 30 7

C. Restitution in cases of substantial harm to the environment .

The purpose of this Law is to provide effective mechanisms for dealing with cases of cross border insolvency so as to promote the objectives of

(62) The insolvency law should permit the insolvency representative to determine the treatment of any assets that are burdensome to the estate.

(35) The insolvency law should specify that the estate should include

The Commission took as the basis of its considerations the draft UNCITRAL Model Provisions on Cross Border Insolvency as contained in the annex to document A CN.9 435.

quot The purpose of this Law is to provide effective mechanisms for dealing with cases of cross border insolvency so as to promote the objectives of

The insolvency law should provide that an asset of the estate acquired after the commencement of an insolvency proceeding with respect to the grantor is subject to a security right created by the grantor before the commencement of the insolvency proceeding to the extent the asset is proceeds (whether cash or non cash) of an encumbered asset which was an asset of the grantor before the commencement of the proceeding.

(54) The insolvency law should specify that the insolvency representative may use an asset owned by a third party and in the possession of the debtor provided specified conditions are satisfied, including

(iv) The insolvency representative in the insolvency of the grantor or

(ll) Insolvency estate means assets and rights of the debtor that are controlled or supervised by the insolvency representative and subject to the insolvency proceedings.

If he's broke, I wanna be broke the same way.

(nn) Insolvency representative means a person or body responsible for administering the insolvency estate.

His brother's wife reported the death to the police, who were unsuccessful in investigating the incident.

Insolvency law

(72) The insolvency law should specify that the insolvency representative may decide to continue the performance of a contract of which it is aware where continuation would be beneficial to the insolvency estate. The insolvency law should specify that

Jurisdictions that will find the Model Provisions useful include those that have had to deal with numerous cases of cross border insolvency as well as those that wish to be well prepared for them.

II. DRAFT UNCITRAL MODEL LEGISLATIVE PROVISIONS ON CROSS BORDER INSOLVENCY 14 184 5

II. DRAFT UNCITRAL MODEL LEGISLATIVE PROVISIONS ON CROSS BORDER INSOLVENCY 12 225 5

II. DRAFT UNCITRAL MODEL LEGISLATIVE PROVISIONS ON CROSS BORDER INSOLVENCY 17 200 6

Article 88 When an insurance company is declared bankrupt in accordance with laws, the estate of the bankrupt insurer, after paying off the expenses of bankruptcy proceedings, shall be distributed in the following order

(152) Where the insolvency law requires court confirmation of an approved plan, the insolvency law should require the court to confirm the plan if the following conditions are satisfied

(a) cooperation between the courts and other competent authorities of this State and foreign States involved in cases of cross border insolvency

C. Except as provided in D , the insolvency law should provide that an asset of the estate acquired after the commencement of an insolvency proceeding is not subject to a security right created by the grantor before the commencement of the insolvency proceeding.

He went bankrupt.

(b) Insolvency law

(b) Insolvency law

Property destruction