CNUDMI - A-CN.9-1221

United Nations A/CN.9/1221

General Assembly

Distr.: General 10 June 2025

Arabic/English only

V .25-09019 (E) 030725 0 40725 2509019

United Nations Commission on International Trade Law Fifty-eighth session Vienna, 7–25 July 2025

Compilation of comments on the draft texts on asset tracing and recovery in insolvency proceedings1

Contents Page

I. Introduction ............................................................... 2

II. Comments received ......................................................... 2

A. Oman ................................................................ 2

B. Greece ............................................................... 3

__________________ 1 The document was submitted 2 days late due to the late submission of comments by States in a suitable format.A/CN.9/1221

V. 2 5-09019 2/3

I. Introduction

1. At its fifty -fourth session, in 2021, the Commission mandated its Working Group V (Insolvency Law) to undertake work on the topic of asset tracing and recovery in insolvency proceedings. 2 In accordance with that mandate, the Working Group commenced work on that topic at its fifty -ninth session (Vienna, 13–17 December 2021) and concluded it at its sixty -sixth session (New York, 12–16 May 2025) ( A/CN.9/1203 , chapter IV).

2. At its sixty -fifth session (Vienna, 16 –20 December 2024), the Working Group requested the UNCITRAL secretariat to revise the draft toolkit for expedited asset tracing and recovery in insolvency proceedings and the draft background notes on asset tracing and recovery proceedings, to reflect its deliberations and decisions at that session, and to circulate the revised texts for comment by States ( A/CN.9/1198 ,

tracing and recovery in insolvency proceedings and the draft background notes on asset tracing and recovery proceedings, to reflect its deliberations and decisions at that session, and to circulate the revised texts for comment by States ( A/CN.9/1198 , para. 25).

3. Pursuant to those requests, the Secretariat, by its note verbale of 14 April 2025, circulated to Governments for comment document A/CN.9/WG.V/WP.201 containing the revised drafts of the toolkit and the background notes. The document was made available to States for comment on the UNCITRAL website in the six official languages of the United Nations.

4. This note compiles comments received from States in response to that note verbale. Those comments should be read together with the draft texts contained in document A/CN.9/WG.V/WP.201 as amended by the Working Group at its sixty -sixth session ( A/CN.9/1203 , chapter IV). The comments are reproduced in the order in which they were received .

II. Comments received

A. Oman

[Original: Arabic/English] [23 May 2025 ]

ﻣﻼﺣﻈﺎت ﺣﻮل ﻣﺴﻮدة ﻗﻮاﻋﺪ ﺗﺘﺒﻊ اﻷﺻﻮل واﺳﺘﺮدادھﺎ ﻓﻲ إﺟﺮاءات اﻹﻋﺴﺎر

وﻣﻦ ﺧﻼل ﻣﻄﺎﻟﻌﺔ ﻧﺼﻮص ﻣﺴﻮدة اﻟﻮﺛﯿﻘﺔ اﻟﻤﺸﺎر إﻟﯿﮭﺎ واﻟﺘﻲ ﺗﻢ اﻟﻮﺻﻮل إﻟﯿﮭﺎ ﻣﺘﺮﺟﻤﺔ ﻣﻦ ﺧﻼل ﻣﻮﻗﻊ ﻣﻼﺣﻈﺎت ﻧﻮﺟﺰھﺎ ﻋﻠﻰ اﻟﻨﺤﻮ اﻵﺗﻲ: اﻷوﻧﺴﯿﺘﺮال ﻓﻘﺪ وﻗﻔﻨﺎ ﻋﻠﻰ ﻋﺪة

• ﺑﻌﺪ ﻣﺮاﺟﻌﺔ اﻟﻤﺴﻮدة، وﻣﻘﺎرﻧﺘﮭﺎ ﺑﺎﻹطﺎر اﻟﻘﺎﻧﻮﻧﻲ ﻓﻲ ﺳﻠﻄﻨﺔ ﻋﻤﺎن، ﻻ ﺳﯿﻤﺎ ﻣﻊ اﻟﻨﻈﺎم اﻷﺳﺎﺳﻲ ﻟﻠﺪوﻟﺔ، وﻗﺎﻧﻮن اﻟﻤﻌﺎﻣﻼت اﻟﻤﺪﻧﯿﺔ، وﻗﺎﻧﻮن اﻟﺠﺰاء اﻟﻌﻤﺎﻧﻲ، وﻗﺎﻧﻮن اﻹﻓﻼس، ﯾﻤﻜﻦ اﻟﻘﻮل ﺑﺄﻧﮫ ﻻ ﯾﻮﺟﺪ ﺗﻌﺎرض ﻣﺒﺎﺷﺮ أو ﺻﺮﯾﺢ

ﺑﯿﻦ اﻟﻤﺒﺎدئ اﻟﻮاردة ﻓﻲ ھﺬه اﻟﻤﺴﻮدة وﻧﺼﻮص اﻟﻘﻮاﻧﯿﻦ اﻟﻌﻤﺎﻧﯿﺔ، وﻣﻊ ذﻟﻚ ﺗﻮﺟﺪ ﻧﻘﺎط ﯾﺠﺐ اﻟﺘﻨﺒﮫ ﻟﮭﺎ ﻋﻨﺪ ﻣﻮاءﻣﺔ

ھﺬه اﻟﻮﺛﯿﻘﺔ ﻣﻊ اﻟﺘﺸﺮﯾﻊ اﻟﻌﻤﺎﻧﻲ. - ﻻ ﯾﺸﻜﻞ اﻋﺘﻤﺎد اﻟﻤﺒﺎدئ اﻟﻌﺎﻣﺔ ﻟﮭﺬه اﻟﻮﺛﯿﻘﺔ ﺗﻌﺎرﺿﺎً ﻣﻊ اﻟﻘﻮاﻧﯿﻦ اﻟﻌﻤﺎﻧﯿﺔ، ﻟﻜﻦ ﺗﻨﻔﯿﺬھﺎ اﻟﻌﻤﻠﻲ ﯾﺘﻄﻠﺐ ﺗﻌﺪﯾﻞ

ﺑﻌﺾ اﻷﺣﻜﺎم اﻟﺘﺸﺮﯾﻌﯿﺔ واﻹﺟﺮاﺋﯿﺔ، ﺧﺼﻮﺻﺎً ﻓﯿﻤﺎ ﯾﺘﻌﻠﻖ ﺑﺎﻟﺘﻌﺎون اﻟﺪوﻟﻲ ﻓﻲ إﺟﺮاءات ﺗﻨﻔﯿﺬ اﻟﻮﺛﯿﻘﺔ، ﻛﻀﺮورة اﻟﺘﻌﺎون اﻟﻤﺒﺎﺷﺮ ﺑﯿﻦ اﻟﻤﺤﺎﻛﻢ ﺑﺸﺄن إﺟﺮاءات اﻹﻋﺴﺎر، وإﺟﺎزة اﺳﺘﺨﺪام وﺳﺎﺋﻞ ﻣﺨﺘﻠﻔﺔ ﻟﺬﻟﻚ )ﻣﺜﻞ

ﻷﺻﻮل(، ﺗﺒﺎدل اﻟﻤﻌﻠﻮﻣﺎت، وﺗﻨﺴﯿﻖ إدارة اﻟﻤﻮﺟﻮدات، وﻋﻘﺪ ﺟﻠﺴﺎت اﺳﺘﻤﺎع ﻣﺸﺘﺮﻛﺔ أو اﻹﻓﺼﺎح اﻟﻘﺴﺮي ﻋﻦ ا إذ إن ھﺬه اﻹﺟﺮاءات – ﺧﺼﻮﺻﺎً اﻹﻓﺼﺎح اﻟﻘﺴﺮي أو اﻟﺘﺪاﺑﯿﺮ ﻣﻦ طﺮف واﺣﺪ – ﺗﺘﻄﻠﺐ ﻓﻲ اﻟﻘﺎﻧﻮن اﻟﻌﻤﺎﻧﻲ

ﻧﺼﻮﺻﺎً ﻗﺎﻧﻮﻧﯿﺔ ﺻﺮﯾﺤﺔ ﻟﻀﻤﺎن اﻻﺗﺴﺎق ﻣﻊ أﺣﻜﺎم اﻟﻨﻈﺎم اﻷﺳﺎﺳﻲ ﻟﻠﺪوﻟﺔ ﺑﺸﺄن اﻟﺤﻖ ﻓﻲ اﻟﺨﺼﻮﺻﯿﺔ وﺿﻤﺎن اﻟﻤﺤﺎﻛﻤﺔ اﻟﻌﺎدﻟﺔ، وﻣﺒﺪأ اﻟﻤﺸﺮوﻋﯿﺔ ﻓﻲ ﺗﻘﯿﯿﺪ اﻟﺤﻘﻮق ﺑﻤﻮﺟﺐ ﻗﺎﻧﻮن ﻧﺎﻓﺬ، وﻏﯿﺮھﺎ ﻣﻦ اﻟﻨﺼﻮص اﻟﺘﻲ ﺗﺴﺘﻮﺟﺐ

إﺗﺴﺎﻗﮭﺎ ﻣﻊ اﻟﻘﺎﻧﻮن اﻟﻌﻤﺎﻧﻲ. ﺗﻼﺣﻆ ﻣﻦ ﻧﺼﻮص اﻟﻮﺛﯿﻘﺔ إﻧﮭﺎ اﺳﺘﺨﺪاﻣﺖ ﻣﺼﻄﻠﺢ "اﻹﻋﺴﺎر" ﻟﯿﺸﻤﻞ اﻟﺤﺎﻻت اﻟﻤﺮﺗﺒﻄﺔ ﺑﺎﻟﺪﯾﻮن ذات اﻟﻄﺎﺑﻊ اﻟﺘﺠﺎري، وھﻮ ﻣﺎ ﯾﻌﺮف ﻓﻲ اﻟﻘﺎﻧﻮن اﻟﻌﻤﺎﻧﻲ ﺑﻤﺼﻄﻠﺢ "اﻹﻓﻼس"، ﻓﻲ ﺣﯿﻦ أن ﻣﺼﻄﻠﺢ "اﻹﻋﺴﺎر" ﻓﻲ __________________ 2 See Official Records of the General Assembly, Seventysixth Session, Supplement No. 17 (A/76/17 ), paras. 215 –217.A/CN.9/1221

__________________ 2 See Official Records of the General Assembly, Seventysixth Session, Supplement No. 17 (A/76/17 ), paras. 215 –217.A/CN.9/1221

3/3 V. 2 5-09019

After reviewing the texts of the draft document, and comparing it with the legal framework in the Sultanate of Oman, particularly the Basic Statute of the State (the constitution), the Civil Transactions Law, the Omani Penal Code, and the Bankruptcy Law, it can be stated that there is no direct or explicit conflict between the principles contained in this draft and the texts of Omani laws. However, there are points that should be noted when harmonizing this document with Omani legislation. The adoption of the general principles of this document does not constitute a conflict with Omani laws. However, its practical implementation requires amending some legislative and procedural provisions, particularly with regard to international cooperation in the procedures for impl ementing the document, such as the necessity of direct cooperation between courts regarding insolvency procedures, and the authorization of the use of various means for this purpose (such as the exchange of information, coordination of asset management, ho lding joint hearings, or forced disclosure of assets). These procedures, especially for forced disclosure of assets, require explicit legal texts in Omani law to ensure consistency with the provisions of the Basic Statute of the State regarding the right t o privacy and ensuring a fair trial, the principle of legality in restricting rights under an applicable law, and other texts that require consistency with Omani law. We note from the text of the document that it used the term “insolvency” to include cases related to debts of a commercial nature, which is known in Omani law as the term “bankruptcy,” while the term “insolvency” in the context of Omani legislation is usually applied to civil cases that are not related to commercial activity.

B. Greece

[Original: English] [29 May 2025]

term “bankruptcy,” while the term “insolvency” in the context of Omani legislation is usually applied to civil cases that are not related to commercial activity.

B. Greece

[Original: English] [29 May 2025]

1. There is a provision for ex parte granting of measures for the purpose of asset tracing (see p. 20). However, under Greek law, the debtor is always heard. Even temporary orders (those that are granted) are issued following a hearing.

2. When the debtor has been declared bankrupt, it is reasonable that the request for asset tracing measures be submitted by the bankruptcy trustee and not by individual creditors (see, however, p. 19).