[Federal Register Volume 61, Number 40 (Wednesday, February 28, 1996)]
[Notices]
[Page 7572]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4469]
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DEPARTMENT OF STATE
[Public Notice No. 2348]
State Department Advisory Committee Study Group Meeting on
UNCITRAL Project on Cross-Border Insolvency
The Study Group on Cross-Border Insolvency of the Secretary of
State's of State's Advisory Committee on Private International Law
(ACPIL) will hold its next meeting on Saturday, March 16 from 10 A.M.
to 3 P.M. to review international efforts to harmonize rules on cross-
border insolvency cases involving commercial entities.
The meeting will review the recent Report by the United Nations
Commission on International Trade Law (UNCITRAL) Working Group on
Insolvency Law, which met in November 1995 to consider possible
standards for procedural aspects of cross-border insolvency. No
decision has been made as to the form any proposed rules should take,
i.e. whether to prepare UN guidelines, consensual rules, a model or
uniform law, or a multilateral treaty. The Advisory Committee Study
Group meeting will facilitate preparation of possible United States
positions for the next meeting of the UNCITRAL intergovernmental
Working Group in April, 1996, and consider other United States
initiatives as well.
UNCITRAL decided at its Plenary session in May, 1995 to work
primarily on procedural, rather than substantive, rules. Based on the
Report referenced above, this is likely to cover judicial cooperation,
jurisdiction, access to proceedings for foreign trustees and other
interests, the relationship between primary, ancillary and secondary
proceedings, and related matters. Other procedure concerns may be taken
up at this stage in the U.N. process, depending on the interests of
participating countries. Future issues, such as substantive law
involving priorities of claims and distribution could be considered, if
at all, at a later stage.
The relationship of the UNCITRAL project generally to U.S.
interests, and its impact on facilitation of international trade will
be considered. Current projects by other organizations will be referred
to where relevant, including the American Law Institute's project on
harmonization of bankruptcy law between the NAFTA states, the
International Bar Association's Concordat, the recent European Union
proposed treaty on cross-border insolvency, as well as work by INSOL,
the American Bankruptcy Institute, and others.
Background documents include the Report of the UNCITRAL Working
Group, Dec. 1, 1995, UN Doc. A/CN.9/419; and a Report by INSOL
(International Association of Insolvency Practitioners) on the Joint
Project of UNCITRAL and INSOL, March 1, 1995. Copies of these
documents, as well as the IBA and European Union documents referred to,
are available from the Legal Adviser's Office at the address indicated
below.
The meeting will be held at the International Law Institute, 1615
New Hampshire Avenue, N.W., Washington, DC 20009 and is open to the
public up to the capacity of the meeting room and subject to the
rulings of the Chair. Since space is limited, persons wishing to attend
should advise Ms. Gonzales of the Office of Legal Adviser (L/PIL),
Suite 355 South Building, 2430 ``E'' Street, N.W., Washington, DC
20037-2800, fax (202) 776-8482. Persons who cannot attend the meeting
are welcome to submit comments to the Legal Adviser's Office. For
further information on this project or on UNCITRAL, please contact
Harold S. Burman at the above address or at (202) 776-8420. For
information on meeting arrangements, please contact Stuart Kerr of the
International Law Institute at (202) 483-3036.
Dated: February 21, 1996.
Harold S. Burman,
Executive Director, Secretary of State's Advisory Committee on Private
International Law.
[FR Doc. 96-4469 Filed 2-27-96; 8:45 am]
BILLING CODE 4710-08-M
