ABSTRACT
The United Nations Commission on International Trade Law (UNCITRAL) was established in 1966 as the organ through which the UN can attempt to reduce or remove obstacles to international commerce. The final text of the Model Law on Cross-Border Insolvency was adopted by UNCITRAL in May 1997. It was approved by the General Assembly in December 1997 with a recommendation that Member States review their insolvency legislation and give favourable consideration to enacting the Model Law. The Model Law consists of 32 articles drafted as model provisions capable of being enacted into the existing laws of any state. States can decide to use as much or as little of the Model Law as they see fit and have complete freedom as to how the provisions should be incorporated.
