Judicial Law Views Quarterly (Law Views)

Increasingly improvements in foreign commerce have promoted trading exchanges and merchants conclude different commercial contract in international level. However, they may fail in executing their financial commitment in such transactions and experience insolvency due to losses or happening different events. Therefore, international insolvency phenomenon especially a competent court to proceed with such kind of insolvency has become an important and radical issue for governments as well as legal and natural persons involved in commerce, since not only governments tend to pose their internal regulations but also there are two main systems in this regards worldwide: plurality system and unity system. Adopting and regulating identical laws on international insolvency would highly help to resolve legal problems on international commerce especially regarding the problems of insolvent creditors and settlement managers in taking a legal action and obtaining receivables from insolvent businessmen in other countries. Therefore, to establish a single procedure in international level, the United Nations Commission on International Trade Law (UNCITRAL) adopted a norm to which we address in present paper. Ultimately, one should say that to remove such challenge, global attitude should be toward synchronization of international insolvency regulations with UNCITRAL model laws. While the Model Law Principles don’t have adaptation with the law of Iran and Iranian creditor law, It is necessary to avoid of absolute quotation of this law.