96-21566. State Department Advisory Committee Study Group Meeting on Cross- Border Insolvency

[Federal Register Volume 61, Number 164 (Thursday, August 22, 1996)]
[Notices]
[Page 43395]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-21566]


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DEPARTMENT OF STATE
[Public Notice No. 2432]


State Department Advisory Committee Study Group Meeting on Cross-
Border Insolvency

    The Study Group on Cross-Border Insolvency of the Secretary of 
State's Advisory Committee on Private International Law (ACPIL) will 
hold its next meeting on Saturday, September 7 from 10 a.m. to 4 p.m. 
in Houston, Texas, to review international efforts to harmonize rules 
on cross-border insolvency cases involving commercial entities.
    The meeting will review draft United Nations rules for procedural 
aspects of cross-border insolvency, as set out in the recent Report of 
the U.N. Commission on International Trade Law (UNCITRAL) Working Group 
on Insolvency Law, which met for the second time in April 1996 (U.N. 
Doc. A/CN.9/422, April 25, 1996). No decision has been made as to the 
form the proposed rules should take, i.e. whether to prepare UN 
guidelines, a UN model law, or a multilateral treaty.
    The Advisory Committee Study Group meeting will provide guidance 
for possible United States positions for the next meeting of the 
UNCITRAL intergovernmental Working Group in October 1996, and consider 
other possible 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 representatives; the 
relationship between primary and other proceedings; the scope and 
effect of a possible stay; the scope of ``national treatment''; and 
related matters.
    Other procedural 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, 
distribution, discharge etc., might possibly be considered at a later 
stage, after an assessment of the current focus on procedural matters.
    The effects of the UNCITRAL project generally on U.S. interests, 
and its impact on facilitation of commerce and trade will be 
considered, as well as its relationship to the work of the National 
Bankruptcy Review Commission. Current projects by other organizations 
will also be referred to, including the American Law Institute's 
project exploring possible 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 the International Association of Insolvency Practitioners 
(INSOL), the American Bankruptcy Institute, and others.
    Background documents include the Report of the first UNCITRAL 
Working Group (UN Doc. A/CN.9/419, Dec. 1, 1995) and a Report by INSOL 
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 in Houston at the Chevron Tower, 51st 
floor conference room, 1301 McKinney Street, from 10 a.m. to 4 p.m., 
and is open to the public up to the capacity of the meeting room and 
subject to the rulings of the Chair. Since space may be limited, 
persons wishing to attend should advise either John Barrett at (713) 
651-5202 or 8223, fax [phone], or Ms. Gonzales of the Office of Legal 
Adviser (L/PIL) at [phone], or fax [phone].
    Persons who cannot attend the meeting are welcome to submit 
comments to the Legal Adviser's Office, L/PIL Suite 355 South Building, 
2430 ``E'' Street, NW., Washington, DC 20037-2800, or by fax to (202) 
776-8482. For further information on the United Nations Commission on 
International Trade Law or this project, please contact Harold S. 
Burman, Advisory Committee Executive Director, at the above address or 
fax number.
Peter H. Pfund,
Assistant Legal Adviser and Advisory Committee Co-Chair.
[FR Doc. 96-21566 Filed 8-21-96; 8:45 am]
BILLING CODE 4710-08-M