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10 Int'l Insolvency Rev. 1 (2001)

handle is hein.journals/intvcy10 and id is 1 raw text is: Editorial The year 2001 technically the first year of the twenty-first century promises to be a significant one for those with an interest in the world of international insol- vency. Several major projects, which had engaged dedicated bands of experts for many years, have arrived at the stage where their practical effects are about to be experienced in an increasing number ofjurisdictions. Among these we can mention the UNCITRAL Model Law on Cross-Border Insolvency, the European Union Regulation on Insolvency Proceedings, and the American Law Institute Transna- tional Insolvency Project. Other significant programmes are expected shortly to be completed, such as the World Bank's ambitious and comprehensive initiative to develop Principles and Guidelines for Effective Insolvency Systems. The latter document, having been tested and developed during the preceding 15 months at a cycle of regional workshops across the world, was the subject of an intensive process of revision and refinement during the early days ofJanuary 2001. A more complete report on this will be included in the next Issue of this Review. In a very real sense, a crucial moment has been reached, at which the next phase of global insolvency development must be planned in a way that enables the positive fruits of this diversified activity to be brought into a coherent and coordinated pro- ject, capable of delivering concrete improvements that also enjoy the widest practic- able participation across the world. The Next Phase The momentum generated by the work activity referred to above, and the growing attention within many countries to the issues of reform of their national insolvency laws, made it inevitable that a debate would begin about the nature and course of the next phase to be addressed at the international level, even before the ink had dried on the texts concluded in what can be termed 'Phase F A significant stage of that debate occurred in December 2000 at the headquarters of UNCITRAL in Vienna. An International Insolvency Colloquium,j ointly organised by UNCITRAL and INSOL International in collaboration with the International Bar Association, took place over the course of three days to consider the next steps for the develop- ment and improvement of national laws dealing with business insolvencies, rehabi- litations and reconstructions. A very positive consensus emerged at that gathering, to the effect that a further phase of work should be undertaken, if possible under the auspices of UNCITRAL. As this Issue of the Review goes to press an intensive programme of preparatory work is already under way, involving a collaborative input from many quarters by individuals and organisations whose energy is being Copyright 0 2001John Wiley & Sons, Ltd. Int. Insol. Rev., Vol. 10:1 2 (2001) DOI: 10.1002/iir.80

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