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- Title
Global law-making in insolvency law: the role for the United Nations Commission for International Trade Law.
- Authors
Adelus, Edouard
- Abstract
United Nations Commission on International Trade Law (UNCITRAL), a subsidiary organ of the United Nations (UN) General Assembly, is a forum where States and other interested actors discuss the harmonization and unification of international trade law. Although UNCITRAL is a relatively flexible, intergovernmental organ harnessing expertise from public and private sources by fostering 'public–private partnerships', it has not succeeded in harmonizing insolvency law globally. This article demonstrates that a mismatch persists between the transnational economy and legal practitioners, on the one hand, and the territorial limitation of States' jurisdiction, on the other. While UNCITRAL manages to bridge this gap at the enactment stage at the cost of not representing all of the actors concerned by insolvency proceedings, it remains inefficient at the implementation stage, where other organizations, especially the World Bank and other development banks, have a greater ability to monitor use and respect of norms of international origin.
- Subjects
BANKRUPTCY; UNITED Nations Commission on International Trade Law; LEGISLATION
- Publication
Uniform Law Review, 2019, Vol 24, Issue 1, p175
- ISSN
1124-3694
- Publication type
Article
- DOI
10.1093/ulr/unz005