The IAIR Executive Committee has suggested that Inese Steina represent IAIR at the 65th session. The fifth working group (insolvency rights) will meet in Vienna from 16-20 December 2024. The goal is to create guidelines for insolvency systems for small businesses and to look at property searches and recovery.
At the 65th session of Working Group V, we undertook a comprehensive review of several key issues related to insolvency law. These included:
- tracking and recovering assets in insolvency proceedings;
- a summary of accelerated tracking and recovery of civilian assets in insolvency proceedings;
- the law applicable to insolvency proceedings.
The Australian delegation has put forth a proposal for an updated manual on the adoption and interpretation of the UNCITRAL Model Law on cross-border insolvency.
It is of great importance that UNCITRAL plays a role in the development of the insolvency framework, in line with its mandate to continue the gradual harmonisation and modernisation of international trade law. In order to fulfil its mandate and to facilitate the exchange of ideas and information, UNCITRAL shall endeavour to maintain close links with international and regional, intergovernmental and non-governmental organisations active in UNCITRAL and international trade and commercial law.
The International Association of Insolvency Regulators (IAIR) is an international organisation of insolvency supervisors from around the world. We are honoured to announce that the Insolvency Control Service has been admitted as a Member to the International Association of Insolvency Regulators (IAIR) in May 2024.