UK to implement Model Law on corporate group insolvencies, delays judgment recognition law

UK to implement Model Law on corporate group insolvencies, delays judgment recognition law

The UK is set to become an early adopter of UNCITRAL’s Model Law on multinational group insolvencies, as London lawyers welcomed the government’s intention to postpone implementing the law on recognition of insolvency-related judgments while it addresses legal certainty concerns stemming from the rule in Gibbs.

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