Introduction to part five

• Author: United Nations Commission on International Trade Law
• Pages: 1-1

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Legislative Guide on Insolvency Law

Part ve: Insolvency law for micro-

and small enterprises

Introduction to part ve

Part ve tailors mechanisms found in other parts of the UNCITL Legislative

Guide on Insolvency Law to the needs of micro- and small enterprises in nancial

distress. Section one lists the UNCITL Legislative Recommendations on Insolvency

of Micro- and Small Enterprises, adopted by the United Nations Commission on

International Trade Law at its y-fourth session.1 Section two contains the com-

mentary to the UNCITL Legislative Recommendations on Insolvency of Micro- and

Small Enterprises, nalized by UNCITL Working Group V (Insolvency Law) at

its y-ninth session (Vienna, 13–17 December 2021).2 e commentary addresses

the following topics: key objectives of a simplied insolvency regime (chapter A),

scope of a simplied insolvency regime (chapter B), institutional framework (chap-

ter C), main features of a simplied insolvency regime (chapter D), participants

(chapter E), eligibility, application and commencement (chapter F), notices and

notications (chapter G), constitution, protection and preservation of the insol-

vency estate (chapter H), treatment of creditor claims (chapter I), features of sim-

plied liquidation proceedings (chapter J), features of simplied reorganization

proceedings (chapter K), discharge (chapter L), closure of proceedings (chapter

M), treatment of personal guarantees, procedural consolidation and coordination

(chapter N), conversion (chapter O), appropriate safeguards and sanctions (chap-

ter P), and pre-commencement aspects (chapterQ).

 Ocial Records of the General Assembly, Seventy-sixth Session, Supplement No. 17 (A/76/17), para. 77 and

annexII.

 A/CN.9/1088, paras. 17 and 18.