The model law aims to maximise group-wide recoveries in an insolvency through cooperation and efficient administration.

The UK government has announced its intention to legislate to implement the UNCITRAL Model Law on Enterprise Group Insolvency (MLEG) “at the earliest opportunity”. The UK may therefore become the first country to adopt the MLEG, a step that the government believes will “enhance the UK’s highly regarded insolvency regime” and ensure that the UK “stays aligned with international best practice”.