[Federal Register Volume 60, Number 190 (Monday, October 2, 1995)]
[Notices]
[Page 51514]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24440]
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DEPARTMENT OF STATE
[Public Notice No. 2263]
Advisory Committee Study Group Meetings on U.N. (UNCITRAL)
Initiatives on Cross-Border Insolvency
A Study Group on Cross-Border Insolvency of the Secretary of
State's Advisory Committee on Private International Law has been
established to review international organization efforts to harmonize
rules applicable to cross-border insolvency involving business
entities. The Study Group will hold two meetings in Washington, DC,
Friday, October 13 and Friday, October 27, from 1 pm to 5 p.m.
The purpose of the meetings will be to review a new project by the
United Nations Commission on International Trade Law (UNCITRAL)
involving preparation of model legislation or international guidelines
on certain aspects of cross-border insolvency. Possible United States
positions concerning the first UNCITRAL Working Group meeting on this
topic beginning October 30, 1995 will also be considered. The
Commission decided at its most recent Plenary session in May, 1995 to
work primarily on procedural, rather than substantive, rules which
could cover matters such as judicial cooperation with regard to
jurisdiction, access to proceedings for foreign trustees and other
interests, coordination of hearings, recognition of judgments, and
enforcement. Consideration may also be given at this stage to
international cooperation on asset tracing and recovery. Additional
matters, including substantive law involving priorities of claims,
relation to other law such as secured interests, and priorities as to
distribution would only be considered, if at all, at a later stage.
The relationship of the Commission's project generally to U.S.
interests, and its impact on facilitation of international trade will
be considered. Current projects by other organizations will also be
reviewed in this context, including the American Law Institute's
project to consider harmonization of bankruptcy law between the NAFTA
states, and projects by the International Bar Association, INSOL and
others.
Background documents include an UNCITRAL Secretariat Report on the
international judicial colloquium on cross-border insolvency at
Toronto, Canada in March, 1995, U.N. Doc.A/CN.9/413, April 12, 1995,
and a Report by INSOL International (International Association of
Insolvency Practitioners) on the Joint Project of UNCITRAL and INSOL:
cross-border insolvency access and recognition, March 1, 1995. Copies
of these documents are available from the Legal Adviser's Office at the
address indicated below.
Background documents may be requested from, and persons who cannot
attend the meetings are welcome to submit comments to, the Office of
Legal Adviser (L/PIL), Department of State, State Annex 44, Suite 355
South Building, Washington, DC 20520, attention Harold S. Burman. The
meetings are open to the public up to the capacity of the meeting room
and subject to the rulings of the Chair; meetings will be held at the
State Department, the October 13 meeting at A.I.D. Conference Room
5951, and October 27 at the Bureau of European Affairs Conference Room
6219A. Since access to the building is controlled, persons wishing to
participate should advise the Office of Legal Adviser not later than
three days before the meeting of their name, address, telephone,
affiliation, and social security number. For further information,
please call Seema Aziz at (202) 776-8426 or 8420.
Peter H. Pfund,
Assistant Legal Adviser.
[FR Doc. 95-24440 Filed 9-29-95; 8:45 am]
BILLING CODE 4710-08-M
