The UNCITRAL Model Law on Cross Border Insolvency
India Law Journal, Vol 2, Issue I, Jan- Mar 2009
19 Pages Posted: 24 Apr 2013
Date Written: March 24, 2009
Abstract
The rising tide of cross border acquisitions give rise to associated risks, which, at the very worst, include the spectre of an insolvent non-resident parent or subsidiary company. This paper describes an attempt made by the UNCITRAL to provide for a uniform standard of provisions relating to cross border insolvency. It also describes the concept of bankruptcy, insofar as it applies to corporations, and traces the history of previous attempts made to standardise insolvency laws across the world. Finally, the paper describes the Indian scenario and the lessons that may be learned from the UNCITRAL Model Law.
Keywords: Insolvency, Bankruptcy, Corporation, Cross-Border, UNCITRAL
JEL Classification: K22, G33
Suggested Citation: Suggested Citation