The UNCITRAL Model Law on Cross-Border Insolvency is close to thirty years old. After its slow start following its inception in 1997, the MLCBI (as it is now referred to) was considered by many countries, especially following its adoption by the big players, USA in 2005 and UK in 2006. In the last ten years alone, more than twenty countries have decided to transpose the MLCBI into their national law.
It was time to publish a solid Article-by-Article Commentary. The same goes for the Model Law on the Recognition and Enforcement of Insolvency-Related Judgments (MLIJ), explained (like the MLCBI) by also using with its accompanying Guide to Enactment. The MLIJ provides a model legislative text to allow any foreign insolvency-related judgment to be enforced. An insolvency-related judgment is a judgment which arises as a consequence of or that is materially associated with an insolvency proceeding. In the EU commonly known as ‘annex’- judgements, relating to actions deriving directly from insolvency proceedings and closely linked with them (Article 6 EIR 2015). Although no country has enacted this MLIJ, a clear commentary can contribute to a better understanding of this Model Law and the need to view it positively. This also applies to the mysterious Article X of the MLIJ. It underlines the close relationship between the MLIJ and the MLCBI and concerns the interpretation of Article 21 of the MLCBI.
The book announced here is an authoritative Article-by-article commentary presents a comprehensive analysis of these two Model Laws. A selection of experts from countries on all continents provide a versatile and up-to-date commentary, with excellent references to explanatory pieces and literature, whereby it is striking that European academics pay relatively little attention to both Model Laws. The processing of case law is also adequate.
I think that the book makes a fresh and important addition to literature on the topic. It contains an extensive and elaborate analysis by authors from across the globe. Several audiences are likely to find this an interesting book. Users will include legislators, considering these Model Laws, as well as practitioners to get a better understanding of a provision’s meaning and impact in other countries. This is a timely book furthermore for courts, to learn how courts in other countries apply the rules and for students across the world who are interested in the evolution and internal dynamics of these Model Laws.
The UNCITRAL Model Laws on Cross-Border Insolvency and on the Recognition and Enforcement of Judgments: An Article-by-Article Commentary, by Reinhard Bork and Michael Veder (editors) (1st edition) (2025, Elgar, Cheltenham), xliii and 494pp. ISBN 9781839102516
This book review was published in eurofenix Summer 2025/#100, The Journal of INSOL Europe, p. 44.