The work of the Working Group V Insolvency Law UNICITRAL, in which the partner of our law firm, Bartosz Groele participated, ended with the finalization of works on model rules regarding the insolvency of groups of companies and micro, small and medium enterprises. The work on these issues lasted two years, including 4 sessions of the Working Group, in which the Polish delegation actively participated. The current stage opens discussions about the need for change and the possible shape of the national regulation. The topic of small and medium-sized enterprises (SME) will continue as Poland is obliged to modify the regulations in this respect in the light of the Council of the European Union’s directive on company insolvency, as the work of UNCITRAL (UN) working groups is an important point of reference.
The report on the work of the 55th session of the V UNCITRAL Working Group can be seen in the following link.
(https://uncitral.un.org/sites/uncitral.un.org/files/972advance_draft_1.pdf)
The Fifth Working group of Insolvency Law of UNCITRAL will choose issues for further work, and it may deal with the topic of asset tracing, which is finding assets of companies, persons and other entities in order to verify suspicions of fraud, abuse or as part of gathering evidence for post-transactional disputes. This will be determined by a colloquium detailing the specific threads, needs and characteristics of issues for the future work of the Fifth Working Group of the UN.
