Get access

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

Authors

  • S. Chandra Mohan

    Corresponding author
    • School of Law, Singapore Management University, Singapore
    Search for more papers by this author
    • Associate Professor (Practice), Singapore Management University. The author, as Official Receiver, was Singapore's representative in the Working Group that helped draft the UNCITRAL Model Law on Cross-border Insolvency. Research for this paper was assisted by a research grant from the Singapore Management University. The author is also grateful to his student Zack Quek Zheng An for his research assistance.

E-mail: chandramohan@smu.edu.sg

Abstract

This paper examines the impact that the United Nations Commission on International Trade Law (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. Copyright © 2012 INSOL International and John Wiley & Sons, Ltd.

Ancillary