UNCITRAL model law on recognition and enforcement of insolvency-related judgments with guide to enactment

Few existing international instruments deal with the recognition and enforcement of judgments generally and those that do exist exclude from their scope matters relating to insolvency and thus recognition and enforcement of insolvency-related judgments. In addition, some uncertainty exists with respect to the interpretation of articles 7 and 21 of the UNCITRAL Model Law on Cross-Border Insolvency (MLCBI) in terms of providing the necessary authority for such recognition and enforcement as a form of relief available on recognition of a foreign insolvency proceeding. The Model Law on Recognition and Enforcement of Insolvency-Related Judgments (MLIJ) is designed to address those situations and provide States with a simple, straightforward and harmonized procedure for recognition and enforcement of insolvency-related judgments, thus complementing the MLCBI to further assist the conduct of cross-border insolvency proceedings.