A/RES/73/200
United Nations
General Assembly
Distr.: General
3 January 2019
Seventy-third session
Agenda item 80
Resolution adopted by the General Assembly
on 20 December 2018
[on the report of the Sixth Committee (A/73/496)]
73/200.
Model Law on Recognition and Enforcement of Insolvency-Related
Judgments of the United Nations Commission on International
Trade Law
The General Assembly,
Recalling its resolution 2205 (XXI) of 17 December 1966, by which it
established the United Nations Commission on International Trade Law with a
mandate to further the progressive harmonization and unification of the law of
international trade and in that respect to bear in mind the interests of all peoples, in
particular those of developing countries, in the extensive development of intern ational
trade,
Recognizing that effective insolvency regimes are increasingly seen as a means
of encouraging economic development and investment, as well as fostering
entrepreneurial activity and preserving employment,
Convinced that the law of recognition and enforcement of judgments is
becoming more and more important in a world in which it is increasingly easy for
enterprises and individuals to have assets in more than one State and to move assets
across borders,
Considering that international instruments on the recognition and enforcement
of judgments in civil and commercial matters exclude insolvency-related judgments
from their scope,
Concerned that inadequate coordination and cooperation in cases of cross border insolvency, which lead to uncertainties associated with recognition and
enforcement of insolvency-related judgments, can operate as an obstacle to the fair,
efficient and effective administration of cross-border insolvencies, reducing the
possibility of rescuing financially troubled but viable businesses, making it more
likely that debtors’ assets would be concealed or dissipated and hindering
reorganizations or liquidations that would be the most advantageous for all interested
persons, including the debtors, the debtors’ employees and the creditors,
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