UN Committee Approves Draft Resolutions on IPR, Arbitration, Insolvency, Etc.
On November 5, 2010, the United Nations legal committee approved four trade-related draft resolutions relating to the United Nations Commission on International Trade Law (UNCITRAL).
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The four draft resolutions were on the following:
Intellectual property rights. Among other things, the draft resolution on a legislative guide on security rights in intellectual property, which was a supplement to the Commission’s legislative guide on secured transactions, would recommend its use when revising relevant national legislation and encourage States to become a party to the UN Convention on the Assignment of Receivables in International Trade and to implement recommendations of the Trade Law Commission’s Legislative Guide on Secured Transactions. (See ITT’s Online Archives or 06/09/10 news, 10060835, for BP summary announcing a June 2010 State Department meeting on the guide.)
Arbitration rules for international disputes. The draft resolution on arbitration rules of UNCITRAL would recommend the rules be used in settling disputes arising out of international commercial relations and ask the UN Secretary-General to make all efforts toward making the Rules known and available.
Insolvency law. The draft resolution on the International Trade Commission’s legislative guide on insolvency law on the treatment of enterprise groups in insolvency would recommend that States use the Guide to assess the economic efficiency of their insolvency law regimes and for revising legislation. It would also recommend that States continue to implement the Model Law on cross-border insolvency and that judges, insolvency practitioners and other stakeholders give due consideration to the Guide.
Annual omnibus draft. The annual omnibus draft resolution reaffirm the importance of the Commission’s work, particularly for assisting developing countries with technical cooperation in the field; note activities such as the reported panel discussion and resulting decisions; and note the lack of sufficient funds to respond to the growing need for uniform interpretation of Commission texts.