CIS Experts Review Draft Model Law on Cross-Border Insolvency

A meeting of the IPA CIS Working Group on the development of the draft Model Law on Cross-Border Insolvency was held at the Tavricheskiy Palace. The meeting brought together representatives of the CIS parliaments, experts and representatives of relevant professional and academic organisations.

The meeting was chaired by Senior Researcher at the Institute of Economics and Demography of the National Academy of Sciences of the Republic of Tajikistan, Mashrab Faizullo.

Deputy Head of the IPA CIS working group and Deputy Head of the Department of Business Legal Regulation at the HSE University Faculty of Law Elena Mokhova presented a systematic analysis of proposals and comments on the draft Model Law received from the CIS parliaments.

Doctor of Law, Chief Research Fellow at the Research Center of Tashkent State University of Law and Deputy Head of the IPA CIS Working Group on the Draft Model Law on Cross-Border Insolvency Foziljon Otakhonov noted that the proposals aimed at improving the concept and legal certainty of the document would be taken into account while preserving its core idea and considering national specificities.

The participants agreed to incorporate the comments received and continue finalising the draft Model Law.

Commemorative awards of the Organising Committee of the International Anti-Crisis Congress "Parade Assembly" were presented to Secretary General of the IPA CIS Council Dmitriy Kobitskiy and Head of the Expert and Analytical Department of the IPA CIS Council Secretariat Denis Zhuk for their contribution to strengthening international cooperation, active participation in and support for model law-making, as well as their work on the development of national and cross-border financial rehabilitation institutions.

The meeting was also attended by Deputy Head of the IPA CIS Council Secretariat Alexey Dolzhikov, Deputy Head of the IPA CIS Secretariat Expert and Analytical Directorate Viktor Mikhailyuk, Head of the Model Law-making Department Tatiana Baranova and Head of the Legal Expertise Department Olga Podkorytova. The participants discussed the results of the International Congress on Cross-Border Insolvency held in July and further cooperation on improving legislation in this area.