✦ LIBER ✦

Implications of the UNCITRAL model law for Australian cross-border insolvencies

✍ Scribed by Rosalind Mason

Publisher: John Wiley and Sons
Year: 1999
Tongue: English
Weight: 192 KB
Volume: 8
Category: Article
ISSN: 1180-0518
DOI: 10.1002/(sici)1099-1107(199922)8:2<83::aid-iir53>3.0.co;2-0

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✦ Synopsis

Recent events in international ®nancial markets have focused regulators' and lenders' attention not only on the importance of insolvency laws as an integral part of the regulation of market economies but also on the need to facilitate the administration of multijurisdictional insolvencies. In this context, UNCITRAL has proposed a Model Law on Cross-border Insolvencies for adoption by its member states. Australia contributed to the relevant UNCITRAL deliberations and is considering possible adoption of the Model Law. This article outlines the Law's main features and its potential impact on current Australian procedures for dealing with cross-border insolvencies.

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