Cross-border Insolvency Problems: Is the UNCITRAL Model Law the Answer?

• Main Author: MOHAN, S. Chandra
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2012
• Subjects: Bankruptcy Law; Dispute Resolution and Arbitration; International Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/1145; https://ink.library.smu.edu.sg/context/sol_research/article/3097/viewcontent/Cross_borderInsolvencyProblems_IstheUNCITRALModelLawtheAnswer.pdf
• Institution: Singapore Management University

This paper examines the impact that the UNCITRAL Model Law on Cross-border Insolvency has had on States in the light of the central problems often associated with transnational insolvencies. Despite the accolades that it has received, the Model Law has been adopted in only 19 countries in the last 15 years and that too in many different ways. If the number of adoptees and the rather conditional acceptance of the Model Law’s provisions represent a lack of international enthusiasm for adopting the Model Law, what are the reasons for this? The paper concludes by asking whether the UNCITRAL Model Law presently has a future in dealing with cross-border insolvencies.