UNCITRAL Model Law
Definition
The UNCITRAL Model Law on Cross-Border Insolvency (1997), a template for coordinating insolvency proceedings across borders. Countries that adopt it (including the US as Chapter 15 of the Bankruptcy Code) recognize foreign proceedings and cooperate with foreign insolvency courts.
Related terms
- Bankruptcy examiner
- An independent investigator appointed by the court in a bankruptcy case to investigate specific matters such as fraud or mismanagement. Unlike a...
- Clawback (avoidance action)
- A lawsuit brought by the trustee to recover assets or payments that left the estate before bankruptcy. The trustee's avoidance powers are...
- Fraudulent transfer (fraudulent conveyance)
- A transfer of assets made with intent to hinder, delay, or defraud creditors, or made for less than reasonably equivalent value while...
- Ponzi-scheme insolvency
- An insolvency where the debtor operated a Ponzi scheme: early investors received returns paid from later investors' capital rather than genuine investment...
- Preference payment
- A payment made to a creditor within the statutory preference period (typically 90 days before bankruptcy filing, one year for insiders) that...
Explained in
- Bankruptcy and Insolvency FraudThe UNCITRAL Model Law on Cross-Border Insolvency (1997), a template for coordinating insolvency proceedings across borders. Countries that adopt it (including...