(35) The insolvency law should specify that the estate should include

(62) The insolvency law should permit the insolvency representative to determine the treatment of any assets that are burdensome to the estate.

C. Except as provided in D , the insolvency law should provide that an asset of the estate acquired after the commencement of an insolvency proceeding is not subject to a security right created by the grantor before the commencement of the insolvency proceeding.

(72) The insolvency law should specify that the insolvency representative may decide to continue the performance of a contract of which it is aware where continuation would be beneficial to the insolvency estate. The insolvency law should specify that

(b) The appointment of an insolvency representative.

For that reason, once the Commission had completed its work on the draft Model Legislative Provisions, it should give serious consideration to drafting a model treaty and to work on cross border insolvency in the banking sector, the reorganization of insolvent enterprises, conflict of laws solutions in cross border insolvency cases and the effects of insolvency proceedings on arbitration agreements and arbitral proceedings.

(46) The insolvency law should specify that, on commencement of insolvency proceedings add a, b, c, d, e

I was broke, facing bankruptcy.

(49) The insolvency law should specify that the measures applicable on commencement of insolvency proceedings remain effective throughout those proceedings until

The insolvency law should provide that an asset of the estate acquired after the commencement of an insolvency proceeding with respect to the grantor is subject to a security right created by the grantor before the commencement of the insolvency proceeding to the extent the asset is proceeds (whether cash or non cash) of an encumbered asset which was an asset of the grantor before the commencement of the proceeding.

(54) The insolvency law should specify that the insolvency representative may use an asset owned by a third party and in the possession of the debtor provided specified conditions are satisfied, including

A bankrupt Conference on Disarmament will eventually lead to an insolvent Treaty unless other multilateral channels are found to advance its disarmament agenda.

(iv) The insolvency representative in the insolvency of the grantor or

Progress on nuclear disarmament had been compromised by the protracted impasse in the Conference on Disarmament, which all countries must work to end so that it could begin to negotiate a fissile material cut off treaty and establish a subsidiary body on nuclear disarmament.

The phrase quot to commence ... insolvency proceedings in the enacting State quot was found to be inadequate, as in many legal systems the insolvency proceedings were only commenced by judicial decision.

(ll) Insolvency estate means assets and rights of the debtor that are controlled or supervised by the insolvency representative and subject to the insolvency proceedings.

The insolvency law should specify that, if a security right is entitled to priority under law other than the insolvency law, that priority continues unimpaired in insolvency proceedings except if, pursuant to the insolvency law, another claim is given priority.

That is why, for domestic debt disputes, countries have bankruptcy laws and courts. But there is no such mechanism to adjudicate international debt disputes.

Furthermore, paragraph (2) might cause particular difficulties in the event of recognition of a foreign interim proceeding, as it would not be appropriate to have a presumption of insolvency operating in the enacting State while there was no final adjudication of insolvency in the foreign jurisdiction.

If he's broke, I wanna be broke the same way.

Article 85. Agreements for arbitration after the dispute has arisen

(179) The insolvency law should provide that the insolvency representative may determine the portion of a secured creditor's claim that is secured and the portion that is unsecured by valuing the encumbered asset.

(88) The insolvency law should specify that notwithstanding that a security interest is effective and enforceable under law other than the insolvency law, it may be subject to the avoidance provisions of insolvency law on the same grounds as other transactions.

(nn) Insolvency representative means a person or body responsible for administering the insolvency estate.

Insolvency law

See footnote to recommendation 46(b) of the Insolvency Guide, which provides that If law other than the insolvency law permits those security interests to be made effective within certain specified time periods, it is desirable that the insolvency law recognize those periods and permit the interest to be made effective where the commencement of insolvency proceedings occurs before expiry of the specified time period.

The modalities could draw on the principles laid out in national bankruptcy procedures.

(80) The insolvency law should specify that the insolvency representative may accept or require performance from the counterparty to a contract prior to continuation or rejection of the contract.

Note to the Working Group See recommendation I in the recommendations of this Guide on Insolvency The insolvency law should specify that, if a security right is entitled to priority under law other than the insolvency law, that priority continues unimpaired in insolvency proceedings except if, pursuant to the insolvency law, another claim is given priority.

(65) The insolvency law should enable a security interest to be granted for repayment of post commencement finance, including a security interest on unencumbered assets, including after acquired assets, or a junior or lower priority security interest on already encumbered assets of the estate.

Article 88 When an insurance company is declared bankrupt in accordance with laws, the estate of the bankrupt insurer, after paying off the expenses of bankruptcy proceedings, shall be distributed in the following order

The insolvency law should provide that, in the case of the insolvency proceedings of the grantor, the acquisition financier has the rights and duties of a holder of a security right.

(e) Provide for timely, efficient and impartial resolution of insolvency

He went bankrupt.

(b) Insolvency law

(b) Insolvency law

Property destruction

I'm broke.

I'm bankrupt.

He was broke.

I'm ruined

FRANK Facing bankruptcy.

(137) The insolvency law should specify that a party in interest have a right to be heard on any issue in the insolvency proceedings that affects its rights, obligations or interests.

In the US, the usual bankruptcy rules allow regulators and courts to hold a bankrupt company s operations together long enough to determine if the firm is worth more dead than alive. The law stops creditors from grabbing assets after the company enters bankruptcy, and it recalls many payments made to favored creditors in the 90 days before bankruptcy was declared, so that all creditors facilitate the firm s survival.

(138) The insolvency law should specify that a party in interest may appeal from any order of the court in the insolvency proceedings that affects its rights, obligations or interests.