Cross-Border Insolvency Regulations (UK)

Cross-Border Insolvency Regulations (UK) refers to the legal framework that governs how insolvency proceedings are managed when a business or individual has debts in multiple countries. These regulations help coordinate how creditors are treated across different jurisdictions, ensuring a fair approach to satisfying claims. This framework is largely based on the UNCITRAL Model Law on Cross-Border Insolvency, which allows foreign insolvency representatives to operate in the UK. Overall, these regulations aim to provide clarity and efficiency in resolving cross-border insolvency issues, benefiting debtors and creditors alike.