ILC submits 2nd Report on Cross Border Insolvency; recommends adoption of UNCITRAL Model Law

The ILC recommended the adoption of the UNCITRAL Model Law of Cross Border Insolvency, 1997 as it provides for a comprehensive framework to deal with cross border insolvency issues. The Committee also recommended a few steps to ensure that there is no inconsistency between the domestic insolvency framework and the proposed Cross Border Insolvency Framework.



from Jagran Josh https://ift.tt/2CWT0zX
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