Howard Morris recently took part in a panel discussion at a conference hosted by the International Insolvency Institute in New York. The panel discussed the UNCITRAL Model Law on Recognition and Enforcement of Insolvency-Related Judgments.
AsGlobal Restructuring Reviewreports, Howard was asked why the UK had been so quick to explore the adoption of the new model law, and he responded that the loss of the European Insolvency Regulation has concerned the profession, but consulting early on the new model law is a statement that the UK wants to remain present in international restructuring and insolvencies.
Howard also commented, “Are we more universalist now? I don’t think we are. . . . I think we’ve become modified universalist, which some translate as meaning we’re in favour of universalism so long as English law is paramount!”