Description

Model Law arose from work done by UNCITRAL, the United Nations Commission on International Trade Law. It is an exercise in realism and the art of the possible policy objectives but the policy objectives are broad. These range from the general (greater legal certainty for trade and investment) to the particular including:

• fair and efficient administration of cross-border insolvencies with protection for the interests of the creditors, the debtor and other interested parties;
• maximising the value of the debtor’s assets; and
• facilitating the rescue of financially troubled businesses with the consequence of protecting investment and preserving employment.

In this seminar, Professor McCormack will discuss the main features of the Model Law, the state of its implementation in some countries and the interaction between the Model Law and other sources of international insolvency law on solving issues arising from international insolvencies.

About The Speaker

Before joining Leeds, Gerard McCormack has held other Professorial positions including at Manchester and Essex (where he was also Dean of the School of Law). He is the author of many books and journal articles including the following “US Exceptionalism and UK Localism? Cross Border Insolvency Law in Comparative Perspective” (2016) 36 Legal Studies 136-162; “Universalism in Insolvency Proceedings and the Common Law” (2012) Oxford Journal of Legal Studies 325-347 and “Comi and Comity in UK and US Insolvency Law” (2012) 118 Law Quarterly Review 140-159. He has considerable experience of working on law reform projects including in Hong Kong and most recently for the European Commission on the harmonization of insolvency law in Europe. McCormack has also given expert evidence on insolvency and credit matters to foreign courts and tribunals.