Examples of Model Law in a sentence
International arbitrationInternational arbitration is governed by the International Commercial Arbitration Law (Law 101/87), which is modelled after the UNCITRAL Model Law.
Before going further to examine the factors which a recognising court should consider, it is apposite to set out the key features and objectives of the recognition and relief regime under the Model Law.
If Hydrodec had obtained recognition of the Part A1 Moratorium as a foreign non-main proceeding in the alternative, the recognising court would then exercise its discretion in the grant of relief under Article 21 of the Model Law.
Nonetheless, such a requirement is consistent with the protection of creditors’ interests in the grant of relief, and reflects the primacy of a foreign main proceeding and the subsidiary role of a foreign non-main proceeding under the Model Law regime.32The court then carried out a fairly detailed analysis of the proposed restructuring plan in the US Chapter 11 process.
Article 12(1) of the UNCITRAL Model Law on International Commercial Arbitration17 posits a general principle in this sense by demanding that an arbitrator:Shall disclose any circumstances likely to give rise to justifiable doubts as to his impartiality or independence.