D. Post commencement finance

Effect of a subordination agreement in insolvency proceedings

Priority of a security right in insolvency proceedings

Need for post commencement finance

(kk) Insolvency court means a judicial or other authority competent to control or supervise an insolvency proceeding.

Post commencement financing in international reorganizations

Recommendations 115 (impact of insolvency on conflict of laws rules) and 116 (enforcement in insolvency proceedings)

(46) The insolvency law should specify that, on commencement of insolvency proceedings add a, b, c, d, e

(ll) Insolvency estate means assets and rights of the debtor that are controlled or supervised by the insolvency representative and subject to the insolvency proceedings.

Effect of conversion on post commencement finance (para.

The unavailability of provisional measures in such circumstances could frustrate the objectives of the insolvency proceedings.

(c) Request any relief available to it in insolvency proceedings.

Priority for post commencement finance (paras. 101 and 102)

Security for post commencement finance (paras. 103 and 104)

The insolvency law should provide that, in the case of the insolvency proceedings of the grantor, the acquisition financier has the rights and duties of a holder of a security right.

(mm) Insolvency proceedings means collective judicial or administrative proceedings for the purposes of either reorganization or liquidation of the debtor's business conducted according to the insolvency law.

(c) Commencement of insolvency proceedings by a group company against a related group company.

(137) The insolvency law should specify that a party in interest have a right to be heard on any issue in the insolvency proceedings that affects its rights, obligations or interests.

For example, it is not uncommon for insolvency proceedings to be partially or completely suspended pending criminal investigations.

(e) In the area of insolvency, the UNCITRAL Model Law on Cross Border Insolvency and the UNCITRAL Legislative Guide on Insolvency Law

Possible future work in the area of insolvency law

Creditors in insolvency proceedings

Cross border insolvency legislation

(b) Insolvency law

Addendum

Three issues of specific concern in insolvency proceedings involving one of a group of companies are

That was said to enhance certainty for the secured creditor with respect to the law applicable to the most important matter for which the security right was created, i.e. the protection of the secured creditor in the case of default.

Trial of Wilhelm List (the Hostages trial).

(nn) Insolvency representative means a person or body responsible for administering the insolvency estate.

He's the guy they sent to Washington to interview the brain trust.

Insolvency Guide recommendations

(iii) The insolvency administrator.

Note to the Working Group See recommendation 85 (see WP.21 Add.1), which sets forth the general rule on subordination applicable in the absence of insolvency proceedings.

In many instances there will be no need for provisional measures to continue to apply after the commencement of proceedings, as they will be superseded by the measures applicable on commencement.

Under some insolvency laws that provide for consolidation, intra group obligations are terminated by the consolidation order.

International Insolvency Institute (III)

1346 2000 on Insolvency Proceedings nor the UNCITRAL Model Law on Cross Border Insolvency addresses the issue.

Treatment of corporate groups in insolvency

The insolvency law may provide the court with the power to

Detailed reports on electronic commerce and insolvency law had also been drawn up.

That consultation might take the form of a multinational colloquium, a forum used to good effect in developing both the Model Law on Cross Border Insolvency and the Legislative Guide on Insolvency Law.

The Hague Conference collaborated closely with UNCITRAL in developing the chapter of the UNCITRAL Legislative Guide on Insolvency Law dealing with law applicable in insolvency proceedings.

Obviously, protection of the criminal process and the needs of public authorities are extremely important, however, the effect of such actions on creditors and the insolvency process can be substantial.

The Section on Insolvency, Restructuring and Creditors' Rights (SIRC) of the Legal Practice Division of the International Bar Association undertakes a number of activities in the area of insolvency law.

This recommendation is subject to Recommendation 88 of the Insolvency Guide.