6. Cross-Border insolvency Protocol

The Cross-Border Insolvency Protocol is an agreement that helps manage bankruptcies affecting businesses operating in multiple countries. When a company faces financial trouble and has assets or creditors in different nations, this protocol provides a framework for cooperation between those countries' legal systems. It ensures that the insolvency process is handled efficiently, protects the rights of creditors, and aims for fair treatment of all parties involved. By establishing clear guidelines, it helps avoid conflicts between different legal jurisdictions and promotes smoother resolution of cross-border financial issues.