✦ LIBER ✦

Should reciprocity be a part of the UNCITRAL Model Cross-Border Insolvency Law?

✍ Scribed by Keith D. Yamauchi

Publisher: John Wiley and Sons
Year: 2007
Tongue: English
Weight: 366 KB
Volume: 16
Category: Article
ISSN: 1180-0518
DOI: 10.1002/iir.151

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

In 1997, the United Nations Commission on International Trade Law adopted a Model Law on Cross Border Insolvency. Since then, many countries have passed it or a revised version of it. In many cases, the adopting country wrestled with the issue of whether to include a reciprocity provision in its version. Some have included such a provision, others have not. The inclusion of a reciprocity provision is not consistent. This article discusses the concept and argues that a reciprocity provision could be detrimental to the operation of the Model Law and prejudicial to the parties; especially those in the country whose legislation includes such a provision. Copyright © 2007 John Wiley & Sons, Ltd.

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