The main accomplishment of this week’s UNCITRAL Working Group V session on insolvency law, which took place from 13–17 December 2021, was the adoption of the legislative guide on insolvency law for micro- and small enterprises, which reflects recommendations provided for in ELI’s Rescue of Business in Insolvency Law Report, which is available here.

The Working Group further discussed legal issues arising from civil asset tracing and recovery in insolvency proceedings as well as applicable law in insolvency proceedings.

ELI is grateful to Prof Madaus and Mr Boon for their invaluable contributions to the work of the UNCITRAL’s Working Group V (Insolvency Law) and in doing so facilitating closer ties between both UNCITRAL and ELI.