Proceeding contribution from Lord Maclennan of Rogart (Liberal Democrat) in the House of Lords on Wednesday, 22 March 2006. It occurred during Debates on delegated legislation on Cross-Border Insolvency Regulations 2006.
Cross-Border Insolvency Regulations 2006
We on these Benches associate ourselves with the general welcome that has been accorded to these regulations. It is satisfactory to see the UNCITRAL model law being extended, and no doubt that in itself will have some exemplary effect on other countries. I associate myself with the questions that have just been asked, and perhaps the Minister can give an indication of how many other countries have ratified or introduced these regulations in their own jurisdictions. I confess to being a little unclear—that is my fault as I am not an expert in this field—about the precise interface between the EU regulation and the model law. I have one particular question for the Minister. Can a claimant from a European Union country shop between the jurisdiction and the remedies provided under this and the European regulation? Is there a choice? I gather that there is a considerable overlap and it may not be a particularly practical question; none the less, it would be of interest to see how it is intended to operate.
Secondary information
- Type
- Proceeding contribution
- Reference
- 680 c139GC
- Session
- 2005-06
- Chamber / Committee
- House of Lords Grand Committee
- Subjects
- Company law Credit Cross border cooperation Insurance companies Insolvency Countries UN Commission on International Trade Law
- Legislation
- Cross-border Insolvency Regulations 2006
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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