ABSTRACT
This chapter explores the possibility for building upon the Model Law to achieve an even closer degree of harmonization and cooperation in cross-border insolvency proceedings, in the context of the close physical and economic relationship between Australia and New Zealand. In July 2008, Australia and New Zealand were added to the list of countries who had then incorporated the UNCITRAL Model Law on Cross-Border Insolvency Proceedings 1997 (Model Law) into their domestic laws. In approaching cross-border insolvency, a conceptual spectrum of cooperation can be seen to exist from 'unity' at one extreme, to 'territoriality' at the other. True unity of proceedings suggests that there will only be one set of insolvency proceedings governing the debtor. The chapter concludes that Australia and New Zealand are in an almost unique position to move closer towards unity of insolvency proceedings, and to provide an early model for other states that are in a position to, and wish to, achieve such a result.
