About the Section
The Insolvency Section of the IBA is the most prominent international association of lawyers interested in restructuring, insolvency and creditors' rights law, as well as related company law, transactional and litigation practices.
Its principal goals are to:
- provide a forum, at conferences twice a year (the IBA's annual conference and the Insolvency Section's own conference, usually in May), for substantive educational sessions presented by genuine experts on the most cutting-edge issues in restructuring, insolvency and creditors' rights;
- create a lively network of lawyers (private practitioners, corporate counsel, judges, academics and law reform opinion leaders) from common and civil law systems in developed, emerging and formerly centrally controlled economies; and
- contribute to the reform and harmonisation of insolvency (and related) laws through permanent expert delegations to organisations such as the United Nations Commission on International Trade Law (UNCITRAL), the World Bank and the International Monetary Fund.
By joining the Insolvency Section, you will benefit from :
- an open, friendly and supportive group which welcomes and provides opportunities for advancement of lawyers at all stages of their careers - from junior lawyers to the most distinguished practitioners in the world;
- extensive opportunities of cross-selling prospects to, as well as receiving cross-referrals from, IBA lawyers in legal disciplines beyond insolvency and restructuring. This is not ordinarily possible in purely insolvency-focused associations;
- unparalleled access to international, governmental and trade organisations useful to practice development. Insolvency Section members include insolvency academics, commercial judges, and representatives of the leading regulatory and international institutions, such as UNCITRAL and the World Bank;
- opportunities to be involved in ground breaking insolvency law reforms projects which are internationally recognised and respected. The Insolvency Section has had a significant impact on the practice of cross-border insolvency law, and has been integrally involved in the development of insolvency legislation that has been enacted into law around the world. It continues to contribute expertise to a number of world bodies including UNCITRAL and the World Bank;
- access to the Insolvency Section's journal, Insolvency and Restructuring International, which is issued twice a year, as well as the opportunity to contribute articles to that prestigious publication;
- the ability to post a biography on the IBA membership site; and
- discounted membership for applicable lawyer groups: the IBA offers a 40 per cent discount on membership fees for full-time academics, judges, government lawyers, retired lawyers and lawyers from low income countries.
Members are encouraged to participate actively in the Section's work both at its 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 and the International Monetary Fund, as well as with organisations of insolvency practitioners such as INSOL International/INSOL Europe, the International Insolvency Institute, the Association of European Insolvency Practitioners and national insolvency specialist organisations.
During the UNCITRAL Working Group V session in December 2020, a colloquium was held to consider whether UNCITRAL should be advised to undertake future work on applicable law (choice of law) in cross-border insolvency proceedings.
In recent times, physical crowds are frowned upon, lest it spark the inadvertent transmission of the deadly Covid-19 virus across social groups. However, it is precisely in times like these that the true value of the crowd has emerged.
Covid-19 relief measures
The Insolvency Section compiled a country-by-country comparison exploring insolvency legislation initiatives as a result of the Covid-19 pandemic. Information was gathered with the collaboration of the Insolvency Section officers and members in July 2020.
Insolvency and Restructuring International
The latest issue of the Section journal, Insolvency and Restructuring International (IRI), is now available to access online for all members of the IBA Insolvency Section. Non-members are able to read brief summaries of the articles online and will find links to purchasing articles and issues.
IRI is published twice yearly and sent to members of the section. For others it is available via subscription.
Subcommittees and other groups
The Insolvency Section also coordinates the activities of the following subcommittees/working groups.
- Creditors' Rights Subcommittee
- Insolvency Section Advisory Board
- Insolvent Financial Institutions Subcommittee
- Legislation and Policy Subcommittee
- Reorganisation and Workouts Subcommittee