UNCITRAL - 54th Session of Working Group V (Insolvency Law)

IAIR was been invited by the secretariat of UNCITRAL to attend the working group on insolvency law as an observer.

Two IAIR Members took this opportunity, and attended the session in New York in May 2017 and a further two members took the opportunity to to attend the meeting in Vienna in December 2018 which was looking at the new MSME project mandated by the UN Commission in July.  A copy of the IAIR members report on the event it attached below (if you are logged in as an IAIR member).

The UNCITRAL working group on insolvency law is responsible for the development of the Model Law on cross-border insolvency, adopted by some IAIR member countries, as well as legislative guidance and judicial materials. The working group is finalising two projects to develop Model Law provisions for the cross-border insolvency of groups and the recognition and enforcement of insolvency-related judgements and is about to begin substantive work on a new project to develop guidance on insolvency systems for micro, small and medium-sized enterprises.

UNCITRAL has confirmed that IAIR has a standing invitation to attend the working group. As an observer, attendees are allowed to get involved in the deliberations and discussions but have no voting rights in the group. Attending the working group provides an opportunity both for IAIR to raise its profile on the global stage and for any Members interested in the work of UNCITRAL (particularly from those countries not currently represented at UNCITRAL or are considering adoption of the Model Law) to engage with the UNCITRAL work and network with the other delegations represented, on behalf of IAIR.

Information about UNCITRAL rules of procedures and methods of work is available at http://www.uncitral.org/uncitral/en/about/methods_documents.html. The agenda and working papers for meetings are available on the UNCITRAL website at www.uncitral.org

With the support of IAIR members at the AGM, the Executive Committee provides funding assistance for two IAIR members to attend each of the relevant UNCITRAL events on insolvency.