(31) The insolvency law of the State in which insolvency proceedings are commenced (lex fori concursus) should apply to all aspects of the commencement, conduct, administration and conclusion of those insolvency proceedings and their effects. These may include, for example

It was noted that national laws, in enumerating persons who may apply to commence an insolvency proceeding, often did not mention a representative of a foreign insolvency proceeding.

The Commission considered the question whether the foreign representative could apply to commence an insolvency proceeding prior to recognition.

(e) Protection of the insolvency estate against the actions of creditors, the debtor itself and the insolvency representative, and where the protective measures apply to secured creditors, the manner in which the economic value of the security interest will be protected during the insolvency proceedings

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

(5) This article does not apply if, at the time of application for recognition, a proceeding is pending concerning the debtor under identify laws of the enacting State relating to insolvency .

(5) This article does not apply if, at the time of application for recognition, a proceeding is pending concerning the debtor under identify laws of the enacting State relating to insolvency .

A foreign representative is entitled to apply to commence a proceeding under identify laws of the enacting State relating to insolvency if the conditions for commencing such a proceeding are otherwise met.

A foreign representative is entitled to apply to commence a proceeding under identify laws of the enacting State relating to insolvency if the conditions for commencing such a proceeding are otherwise met.

quot (5) This article does not apply if, at the time of application for recognition, a proceeding is pending concerning the debtor under identify laws of the enacting State relating to insolvency . quot

The stay does not apply to commencement of full insolvency proceedings in the United States, although those proceedings would be subject to the provisions on coordination and cooperation.

Insolvency law

Insolvency law

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

Various interventions were made questioning the need for paragraph (2), which established a rebuttable presumption of insolvency of the debtor, for the purposes of commencing an insolvency proceeding in the enacting State, upon recognition of a foreign insolvency proceeding.

It would provide for court access for foreign insolvency administrators, the recognition of foreign insolvency proceedings, the right to commence or participate in an insolvency proceeding in the enacting State and judicial cooperation and assistance in cross border insolvencies.

Directors' and officers' responsibilities and liabilities in insolvency and pre insolvency cases

(e) In the area of insolvency, the UNCITRAL Model Law on Cross Border Insolvency and the UNCITRAL Legislative Guide on Insolvency Law

(e) Provide for timely, efficient and impartial resolution of insolvency

(103) Once the financial contracts of the debtor have been terminated, the insolvency law should permit counterparties to enforce and apply their security interest to obligations arising out of financial contracts.

Insolvency Guide recommendations

(b) Insolvency law

(b) Insolvency law

relating to insolvency

The view of the participating judges and government officials concerned with insolvency was that it would be worthwhile for the Commission to provide a legislative framework, for example by way of model legislative provisions, for judicial cooperation, court access for foreign insolvency administrators and recognition of foreign insolvency proceedings.

The Model Law was based on a realistic approach to cross border insolvency issues, provided insolvency practitioners with a valuable tool for resolving insolvency problems and allowed courts in different States to cooperate on a practical level.

Developments in insolvency law adoption of the UNCITRAL Model Law on Cross Border Insolvency

(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.

For example, neither the European Council Regulation No. 1346 2000 on Insolvency Proceedings nor the UNCITRAL Model Law on Cross Border Insolvency addresses the issue.

46. His delegation supported the underlying principles of the Model Law judicial cooperation court access for foreign insolvency administrators and recognition of foreign insolvency proceedings.

quot (a) if the proceeding under identify laws of the enacting State relating to insolvency is taking place at the time the application for recognition of the foreign proceeding is filed, article 16 does not apply and any relief under article 15 or 17 must be consistent with the conduct of the proceeding under identify laws of the enacting State relating to insolvency

Upon recognition, a foreign representative may apply to commence a proceeding in this State under identify laws of the enacting State relating to insolvency if the conditions for commencing such a proceeding under the law of this State are otherwise met.

Upon recognition, a foreign representative may apply to commence a proceeding in this State under identify laws of the enacting State relating to insolvency if the conditions for commencing such a proceeding under the law of this State are otherwise met.

(iii) The insolvency administrator.

Domestic insolvency law treatment

Cross border insolvency legislation

Creditors in insolvency proceedings

International Insolvency Institute (III)

3. Cross border insolvency

4. Cross border insolvency.

on Cross Border Insolvency

The advantage of focusing on systems in the insolvency area is that the insolvency area ultimately applies to all activities whenever an insolvency or reorganization occurs.

quot (c) in case the assigned receivables constitute security for indebtedness or other obligations, any insolvency rules or procedures generally governing the insolvency of the assignor

The need for such guidelines is not limited to large insolvency cases.

(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