United Nations Commission on International Trade Law (UNCITRAL) is the core legal body within the United Nations system in the field of international trade law. It is the body with universal membership specializing in worldwide commercial law reform for over 50 years. The Convention on the Contracts for the International Sale of Goods, Model Law on International Commercial Arbitration, Model Law on Conciliation, and many other legislative texts can be mentioned as the result of the work of UNCITRAL.
The activities of UNCITRAL are organized along working groups specialized in different areas of international private law. The session of one of such UNCITRAL Working Groups was held in New York, USA, on May 7-10, 2018. This Working Group V has been developing the Insolvency Law acts since 1995 and this year marked the 53rd session of this Working Group.
Regional Director of Business Development of PraeLegal International, Sherzod Abdulkasimov, and Partners of PraeLegal Uzbekistan, Davranbek Ahmatov and Irina Kim, attended this working group session, who were the only representatives of Uzbekistan in the present event among other members of UNCITRAL.
During this Working Group session, the draft model law on Recognition and Enforcement of Insolvency-Related Judgments, draft legislative provisions on Facilitation of the Cross-Border Insolvency of Enterprise Groups, and Insolvency of micro, small and medium-sized enterprises were discussed and relevant amendments were proposed.
The next session of the current Working Group V is planned to take place next year.