Join us in this enlightening podcast as Kathlene Burke sits
down with Simon Whiting, the Assistant Director of Policy at the U.K.
Insolvency Service, to discuss the outcome of the Government’s consultation on
implementing two model laws, which have been adopted by the United Nations
Commission on International Trade Law (‘UNCITRAL’) — the Model Law on
Enterprise Group Insolvency (‘MLEG”) and the Model Law on Recognition and
Enforcement of Insolvency-Related Judgments (“Judgments Model Law”).
The Government intends to legislate to implement the MLEG
“at the earliest opportunity”. The UK will likely be the first jurisdiction to
implement the MLEG into its national law. In contrast, the Government will not
yet proceed with its proposal to adopt “Article X” of the Judgments Model Law.
Instead, in order to address issues raised in certain consultation responses,
the Government plans to undertake further work to determine how legal certainty
can be maintained. To that end, the Government has invited interested parties to submit abstracts of
papers on this and other topics of Insolvency law for their Foward
Thinking Conference scheduled for 10 November 2023. The deadline
to submit papers has been extended to 18 August 2023.