Participants

• Author: United Nations Commission on International Trade Law
• Pages: 10-12

10 UNCITRAL Legislative Guide on Insolvency Law for Micro- and Small Enterprises

(c) at the competent authority should be authorized to decide on displace-

ment and terms of displacement on a case-by-case basis. (See recommendations 112

and 113.)

Possible involvement of the debtor in the liquidation of

the insolvency estate

287. e insolvency law providing for a simplied insolvency regime may specify

circumstances under which the competent authority may allow the debtor’s involve-

ment in the liquidation of the insolvency estate and the extent of such involvement.

Deemed approval

288. e insolvency law providing for a simplied insolvency regime should

specify the maers which require approval of creditors and establish the relevant

approval requirements. (See recommendation 127.) It should also specify that

approvals on those maers are deemed to be obtained where:

(a) ose maers have been notied by the competent authority to relevant

creditors in accordance with procedures and time periods established for such

purpose in the insolvency law providing for a simplied insolvency regime or by the

competent authority; and

(b) Neither objection nor sucient opposition as regards those maers is

communicated to the competent authority in accordance with procedures and time

periods established for such purpose in the insolvency law providing for a simplied

insolvency regime or by the competent authority.

E. Participants

Rights and obligations of parties in interest

289. e insolvency law providing for a simplied insolvency regime should specif y

rights and obligations of the MSE debtor, of the creditors and of other parties in

interest, including employees where applicable under national law, such as:

(a) e right to be heard and request review on any issue in the simplied

insolvency proceedings that aects their rights, obligations or interests; (See

recommendations 137 and 138.)