Legislation to note: cross-border insolvency rules take effect tomorrow

14/10/2008

The Federal Court (Corporations) Amendment Rules 2008 (No 2) were registered on the Federal Register of Legislative Instruments�today, 14 October 2008 and will commence on 15 October 2008.�They amend�the Federal Court (Corporations) Rules 2000 to give effect to the Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law (the Model Law).� The Model Law outlines a system of insolvency procedures to be used in cases where the insolvent party has assets in more than one country, or when there are foreign creditors present in a domestic insolvency proceeding. Learn more>

14 October 2008