Adopted by UNCITRAL on 1 July 2009, the UNCITRAL Practice Guide on Cross-Border Insolvency Cooperation provides information for insolvency practitioners and judges on practical aspects of cooperation and communication in cross-border insolvency cases. The information is based upon a description of collected experience and practice, focusing on the use and negotiation of cross-border agreements. It provides an analysis of more than 39 agreements, ranging from written agreements approved by courts to oral arrangement between parties to the proceedings, that have been entered into over the last decade or so. The Practice Guide is not intended to be prescriptive, but rather to illustrate how the resolution of issues and conflicts that might arise in cross-border insolvency cases could be facilitated by cross-border cooperation, in particular the use of such agreements, tailored to meet the specific needs of each case and the particular requirements of applicable law. The Practice Guide includes a number of sample clauses to illustrate how different issues have been, or might be, addressed - they are not intended to serve as model provisions for direct incorporation into a cross-border agreement. It also includes summaries of the cases in which the cross-border agreements that form the basis of the analysis were used.
In adopting the interim final text of the Practice Guide, the Commission authorized the Secretariat to add further information with respect to recently adopted cross-border insolvency agreements and to edit and finalize the text in the light of the deliberations of the Commission. The text of the Practice Guide has been finalized in accordance with that decision.