The insolvency law should specify that, if a security right is entitled to priority under law other than the insolvency law, that priority continues unimpaired in insolvency proceedings except if, pursuant to the insolvency law, another claim is given priority.

Note to the Working Group See recommendation I in the recommendations of this Guide on Insolvency The insolvency law should specify that, if a security right is entitled to priority under law other than the insolvency law, that priority continues unimpaired in insolvency proceedings except if, pursuant to the insolvency law, another claim is given priority.

(179) The insolvency law should provide that the insolvency representative may determine the portion of a secured creditor's claim that is secured and the portion that is unsecured by valuing the encumbered asset.

In the insolvency of a non grantor debtor, the creditor is an unsecured creditor with an unsecured claim against the non grantor debtor.

Other insolvency laws provide for a super administrative priority if credit or finance is not available where it is ranked as an administrative claim that is pari passu with other administrative claims such as fees of the insolvency representative or professional employed in the case.

Insolvency law

Insolvency law

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

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

Insolvency Guide recommendations

(b) Insolvency law

(b) Insolvency law

relating to insolvency

In some legal systems a secured creditor who files a claim in the insolvency proceeding is deemed to have waived the security or some of the privileges attached to the credit.

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

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.

(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.

(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

This valuation technique is less applicable to protection of either the value of the encumbered asset or the secured claim than it is to disposal of assets of the estate by the insolvency representative.

International Association of Insolvency Practitioners

Existence of local insolvency proceedings

X. CROSS BORDER INSOLVENCY 20

(59) The insolvency law should permit the insolvency representative to use and dispose of cash proceeds if

(kk) Insolvency court means a judicial or other authority competent to control or supervise an insolvency proceeding.

International insolvency review International Association of Insolvency Practitioners INSOL (London) 5 2 139, 140 161, winter 1996.

International insolvency review International Association of Insolvency Practitioners INSOL (London) 5 2 139, 162 169, winter 1996.

Assistance to law reform in the area of insolvency law reform includes the Regional Technical Assistance (RETA) 5975 Promoting Regional Cooperation in Insolvency Law Reforms addressing (a) informal workouts, (b) intersection between insolvency law and secured transactions law and (c) cross border insolvency.

In 2004, the EBRD completed its Legal Indicator Survey on Insolvency and its Insolvency Sector Assessment to provide stakeholders in insolvency cases with an understanding of the extensiveness and effectiveness of insolvency legal regimes in 25 of the EBRD's countries of operations.

(46) The insolvency law should specify that, on commencement of insolvency proceedings add a, b, c, d, e

IMF staff have produced a number of reports on corporate insolvency, bank insolvency and the restructuring of unsustainable sovereign debt, including Orderly and Effective Insolvency Procedures Key Issues (1999) (analysing major policy choices to be addressed in the design of an effective corporate insolvency system).

Treatment of corporate groups in insolvency

Effectiveness of security rights in insolvency

(52) The insolvency law should permit

Treatment of corporate groups in insolvency

UNCITRAL Legislative Guide on Insolvency Law