The Nottingham Contribution to a New International Insolvency Framework

Professor David Burdette, a member of the Centre for Business and Insolvency Law, has been recently appointed a representative of INSOL International to the United Nations Commission on International Trade Law (UNCITRAL).

Professor David Burdette, a member of the Centre for Business and Insolvency Law, has been recently appointed a representative of INSOL International to the United Nations Commission on International Trade Law (UNCITRAL).

UNCITRAL's mission is to act as the core legal body of the United Nations system in the field of international trade law and has specialised in commercial law reform worldwide for over 40 years. UNCITRAL's business is the modernisation and harmonisation of rules on international business, which naturally include the rules on insolvency. UNCITRAL does this by formulating modern and harmonised rules on commercial transactions by drafting conventions, model laws and rules with global acceptance, legislative guides and recommendations of good practice to assist the legislator and policy maker as well as through technical assistance in law reform projects.

UNCITRAL's Working Group V is specifically entrusted with the task of reviewing insolvency law and was responsible for developing the Model Law on Cross-Border Insolvency 1997 (now adopted by over 20 states worldwide) and the Legislative Guide on Insolvency 2004 (which is used as a template for insolvency law reform globally). Working Group V meets twice yearly in Vienna and New York, its most recent meeting being in Vienna on 15-19 December 2014, at which Professor Burdette was present. Participating in these meetings are member states as well as interested international organisations with observer status, such as INSOL International, which is a 10,000-strong association of academics, judges, practitioners and policy-makers in the insolvency field.

Professor Burdette has a number of years of expertise working in the international reform field for organisations such as the World Bank and Governments around the world. He was more recently involved in the Debtor and Creditors' Rights Task Force Meeting, organised by the World Bank in Washington DC on 22 October 2014, which he also attended on behalf of INSOL International. In that capacity, he is well placed to be able to participate in the deliberations of Working Group V, which is currently working on three very topical matters: facilitating the insolvency of multinational enterprise groups, assessing the rules on directors' liability for insolvency (including wrongful/insolvent trading) and setting out a new framework for the recognition and enforcement of insolvency-related judgments. It is also a major achievement for the Centre for Business and Insolvency Law, of which Professor Burdette is the Chair and which has an international reputation as a focus for specialist research and teaching.

The Nottingham Contribution to a New International Insolvency Framework

Published on 9 January 2015
  • Category: Research; Nottingham Law School

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