UNCCA May Seminar 2022 (CONCLUDED)

The Model Law on Cross-Border Insolvency was issued by the United Nations Commission on International Trade Law (UNCITRAL) in 1997, with Australia playing a significant part in its drafting.  Australia adopted the Model Law under the Cross-Border Insolvency Act 2008 thereby opening up its insolvency laws and processes to international insolvencies with interests here. Australian practitioners are likewise able to access foreign laws of the 50 countries that themselves have adopted the Model Law.  At the same time, Australia retained its long-standing cross-border mechanisms under the Bankruptcy Act and the Corporations Act. There have been nearly 100 decisions concerning the Model Law, and more overseas, as well as continued use of the existing mechanisms.

This seminar offers judicial, practice and policy perspectives on whether our cross-border insolvency laws have met their objectives of international co-operation and greater legal certainty in promoting the fundamental principles of insolvency law.  It also examines the further Model Laws and guidance that await attention in Australia, including the outcome of the New York UNCITRAL session in April 2022 developing guidance on applicable law principles and the tracing of assets overseas. The future of cross-border practice and reform is also covered.

DRAFT PROGRAMME (list of speakers will be finalised closer to the event)

Friday, 27th May 2022, 2:00pm - 5:00pm (AEST)

2:00pm - 2:10pm   

       Welcome - The Hon. Justice Brigitte Markovic (Chair of UNCCA, Federal Court of Australia)

2:10pm - 2:40pm   

       UNCITRAL report on the current work of WG V  - Samira Musayeva (UNCITRAL, Vienna) (pre-recorded)

      The application and interpretation of the UNCITRAL Model Law - Jenny Clift (formerly of UNCITRAL, Vienna)

2:40pm - 3:40pm   

       The Model Law – 25 years 

• A practical review of how the Model Law has worked for and in Australia in parallel with the traditional mechanisms – the joint sitting of the Australian Federal Court and the New Zealand High Court in Halifax Finance – the Model Laws on judgment recognition and corporate groups.
• Speakers will include Stewart J Maiden QC (Victorian Bar), Morgan Kelly (Partner, Restructuring Services KPMG Australia), Scott Atkins (Chair, Australia; Head of Risk Advisory, Australia; Partner Norton Rose Fulbright Australia) and Emma Beechey (New Chambers).
• Chaired by the Hon. Justice Brigitte Markovic.

3:45pm - 4:45pm   

 Recent and current international and cross-border insolvency work of UNCITRAL 

• This session will cover a report on UNCITRAL’s recent session on asset tracing, applicable law and the Judicial Perspective; the challenges presented by judgment enforcement and choice of law, and proposed solutions; and the lessons for Australian insolvency law reform from UNCITRAL. 
• Speakers will include Tony Ryan (Partner, Ashurst), Michael Murray and John Martin (Partner, Norton Rose Fulbright).
• Chaired by Prof. Chris Symes (The University of Adelaide).

4:45pm - 5:00pm

 Closing - Dr Dalma Demeter

5:00pm - 6:00pm

 Drinks & Networking

Important - Norton Rose Fulbright's approach to COVID-19 in Australia Norton Rose Fulbright Australia requests that any visitor to our office or guest at our event is able to confirm as follows:

1. I confirm that I am fully vaccinated against COVID-19 with a vaccine approved by the TGA or I have an exemption from NRFA to enter the office;
2. I confirm that I am well and have no COVID-19, fever or other cold or flu-like symptoms;
3. I confirm that I comply with any relevant public health order to the extent applicable to me under current State or Territory Government laws including, but not limited to the following:

• I am not, and no-one in my household is, a confirmed case of COVID-19;
• I am not a close contact with a confirmed case of COVID-19;
• I am not required to, or have completed and cleared any required isolation/quarantine period applicable to me.

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