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9 Int'l Insolvency Rev. 1 (2000)

handle is hein.journals/intvcy9 and id is 1 raw text is: Editorial In the field of international insolvency, the early years of the 21st century are likely to see a number of initiatives, begun during the concluding years of the last one, beginning to come into operation. Already, there are advanced preparations in a number of states to incorporate the UNCITRAL Model Law into their domestic legislation. The European Union convention project, which passed into a limbo of uncertainty after May 1996, has been resurrected as an EU regulation, and seems likely to be adopted by the Council during the course of the year 2000, with prospective entry into force in 2002. Other programmes, such as the American Law Institute's Transnational Insolvency Project, are nearing completion and should yield influential texts and commentaries on which judges and legislators can build as they address the challenges of an increasingly globalised commercial environment, in which multi-jurisdictional insolvencies will inevitably be encountered in growing numbers. We will continue to track the notable developments at national and international levels in Global Watch, and to publish the texts of legislation and conventions that relate to these issues, in this and in future issues of the Review. Special focus on Transactional Avoidance This Issue is mainly devoted to the theme of Transactional Avoidance, which was one of the subjects examined in a comparative context during the meeting of the Academics' Group oflNSOL International, held in Munich on 15 October 1999. Five papers were tabled for discussion, covering the laws of six jurisdic- tions Australia, England, Germany, Mexico, The Netherlands, and South Africa. To assist in achieving a co-ordinated treatment of the topic from the standpoint of the respective jurisdictions, a suggested plan of treatment was circulated, on the understanding that the authors were to exercise their independent judgement as to the best way to present the information concerning the jurisdiction on which they were reporting. For the benefit of readers, the suggested plan is reproduced below. While the points of resemblance between national avoidance laws are numerous, so too are the points of divergence on matters of both principle and of detail, regarding such issues as: the nature of the legal test for purposes of voidability; whether a mental element has to be proved, and if so, on whom is the burden of proof imposed; the key question of the time zone within which a transaction must have taken place; which parties have standing to impeach a transaction concluded before the formal commencement of insolvency proceedings; and the (nowadays, vital) question of funding of proceedings of this kind, given that Copyright ( 2000 John Wiley & Sons, Ltd. Int. Insole. Rev., Vol. 9: 1 3 (2000)

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