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Welcome /  Blog /  2013-12-doc13 Glossary on Terms and Expressions in Insolvency Law

2013-12-doc13 Glossary on Terms and Expressions in Insolvency Law

In cross-border communications, even in the special area of insolvency law, terms and expressions used often have a national-legal background. Many States and regional public institutions, international non-governmental organisations and practitioners’ associations have produced many laws, regulations, principles, guidelines and statements of best practices. All these forms of expressions aim for the better coordination of insolvency measures or proceedings concerning economic enterprises which have operations, assets, activities, debtors or creditors in more than one state. In several instances these laws, regulations and principles provide for a list of definitions or terms, employed frequently within the legal context within which they function. The reason is to try to reach a common means of communication required for conveying special subject information among experts. The Appendix (attached) aims to suport the development a uniform global legal terminology and therefore to assist legislators, insolvency practitioners and courts in their efforts of improving the components of their respective languages to facilitate and smoothen cross-border communication and coordination. Legislators may find this Appendix helpful in their efforts of creating or amending domestic rules relating to international insolvency. Glossary - Insolvency