Insolvency Restructuring and Creditors' Rights Overview

SIRC’s objectives are to:

• provide a forum for the examination and improvement of systems to manage financial distress and to cope with insolvency and the restructuring of troubled enterprises in a global economy;
• provide bridges between insolvency practitioners in common and civil law systems;
• monitor, gather and report on developments in national and cross border insolvency;
• staff the IBA’s commitments to, among others, world bodies such as UNCITRAL focused on insolvency and restructuring issues; and 
• provide input into domestic insolvency law reform initiatives around the globe.

Messages from the Co-Chairs

• Co-Chairs message from the third issue of Insolvency & Restructuring International
• Co-Chairs message of welcome to SIRC's Global Insolvency & Restructuring Conference, (Stockholm 18-20 May 2008: When cash is king)
• Co-Chairs' message from the second issue of Insolvency & Restructuring International
• Co-Chairs' message from the first issue of Insolvency & Restructuring International
• A Tribute to Mark Charles Paben
• A Word of Thanks to the Past Newsletter Editors

Section Overview

The Section on Insolvency, Restructuring and Creditors Rights is the most prominent international association of lawyers interested in insolvency and creditors' rights law. Members are encouraged to participate actively in the Section's work both at its semi-annual conferences and, throughout the year, through the work of its Subcommittees and through articles in the Section's Journal.

The Section serves as an Official Observer to the UNCITRAL Working Group on Insolvency Law, which it has assisted in developing the UNCITRAL Model Law on Cross-Border Insolvency and with which it is currently working to identify areas for harmonisation of domestic insolvency laws, aimed at ensuring certainty and effectiveness in cross-border trade and other financial transactions. The Section works closely, on these and other efforts, with other multinational institutions concerned with insolvency, such as the World Bank, the International Monetary Fund, the Asian Development Bank and the Group of Thirty, as well as with organisations of insolvency practitioners such as INSOL International, the Association of European Insolvency Practitioners and national insolvency specialist organisations.

The role of the Insolvency, Restructuring and Creditors' Rights Section is also to coordinate the activities of the Insolvency, Restructuring and Creditors' Rights Subcommittees.

Twice yearly, the Section on Insolvency, Restructuring and Creditors Rights sponsors substantive educational sessions on the most cutting-edge issues in insolvency and creditors' rights, drawing speakers from its members as well as from government, business and industry, the judiciary and academia. In conjunction with these sessions the Section sponsors a networking dinner which has become legend for exceptional ambience, cuisine and camaraderie.