UNIDROIT - Report General Assambly 2023

EN GENERAL ASSEMBLY UNIDROIT 2023 82nd session A.G. (82) 11

Rome, 14 December 202 3 Original: English February 2024

REPORT

(prepared by the UNIDROIT Secretariat)

Summary For the information of the Members of the General Assembly Action to be taken None Related documents None

Contents

Item No. 1: Opening of the session by the Secretary-General and the Chair of the General Assembly 2022-2023 2 Item No. 2: Election of the Chair of the General Assembly 2023-2024 3 Item No. 3: Adoption of the agenda (A.G. (82) 1) 4 Item No. 4: Election of Governing Council Members for 2024-2028 (A.G. (82) 2 prov. – Extract) 4 Item No. 5: Nomination of The Honourable Leonardo Nemer Caldeira Brant, Judge at the International Court of Justice, as Governing Council Member for 2024-2028 (A.G. (82) 3) 5 Item No. 6: Statement regarding the Organisation’s activity in 2023 (A.G. (82) 4) 6 Item No. 7: Appointment of a Supervisory Authority for the MAC Protocol Registry (A.G. (82) 5) 9 Item No. 8: Report of the Chairman of the Finance Committee on its 96th session (F.C. (96) 8) and reappointment of the Members of the Finance Committee (A.G. (82) 1) 11 Item No. 9: Final modifications to the Budget and approval of the Accounts for the 2022 financial year (A.G. (82) 6) 13 Item No. 10: Adjustments to the Budget for the 2023 financial year (A.G. (82) 7) 13

Item No. 9: Final modifications to the Budget and approval of the Accounts for the 2022 financial year (A.G. (82) 6) 13 Item No. 10: Adjustments to the Budget for the 2023 financial year (A.G. (82) 7) 13 Item No. 11: Arrears in contributions of Member States (A.G. (82) 8) 14 Item No. 12: Approval of the draft Budget for 2024 and observations submitted by Member States (A.G. (82) 9) 14 Item No. 13: Update on the social security package applicable to UNIDROIT staff (A.G. (82) 10) 15 Item No. 14: Any other business 162. UNIDROIT 2023 – A.G. (82) 11

Item No. 1: Opening of the session by the Secretary-General and the Chair of the General Assembly 2022-2023

1. The 82nd session of the General Assembly of the International Institute for the Unification of Private Law (UNIDROIT) was held in hybrid format on 14 December 2023 in Rome. A list of participants is included in Appendix I.

2. The Secretary-General welcomed the participants and proceeded to open the session. He highlighted the importance of this Assembly , which would not only feature the election of a new Governing Council, with the nomination of a judge of the International Court of Justice (ICJ) as a 26th member, but also a decision on the Supervisory Authority for the MAC Protocol Registry. Further, an increase in the Institute’s budget was being put forward for approval for the first time in 20 years.

Finally, he expressed his utmost gratitude for the work of the Chair of the General Assembly 20222023.

3. The Chair of the General Assembly 2022-2023 welcomed the participants and stated that she had been honoured to serve in her position as Chair and thanked everyone for the confidence they had placed in India and in herself. She noted that this year ha d not only been special because she

2023.

3. The Chair of the General Assembly 2022-2023 welcomed the participants and stated that she had been honoured to serve in her position as Chair and thanked everyone for the confidence they had placed in India and in herself. She noted that this year ha d not only been special because she had been the first person from India serving as Chair in 20 years, but also because this appointment had coincided with India’s presidency of the G20 and the Shanghai Cooperation Organisation. 2023 had also marked the 75th anniversary of diplomatic relations between India and Italy. She noted that 2023 had been a special year for UNIDROIT as well, as it had been the first year of the new triennial work programme, and expressed her deep appreciation to the Secretariat, the Secretary -General, the Deputy Secretary -General and the entire team for their impressive work regarding both legislative and promotional activities.

4. Next, the Chair highlighted the adoption and publication of the Principles on Digital Assets and Private Law, as well as the approval of the Model Law on Factoring by the Governing Council and its launch in October , and the progress in the approval process of the UNIDROIT/UNCITRAL Joint Project on the Model Law on Warehouse Receipts. Furthermore, she complimented the Secretariat on the progress that had been made on other high -priority projects such as the Best Practices for Effective Enforcement, the Guide to Collaborative Legal Structures of Agricultural Enterprises and the project on Bank Insolvency, the last of which had also received the support of the Reserve Bank of India. She went on to mention two new projects that had been launched during her tenure, namely the project on the Legal Nature of Voluntary Carbon Credits, and on the U NIDROIT Principles o f International Commercial Contracts and Investment Contracts. The Chair continued to report that in 2023, Spain had deposited its instrument of ratification of the Luxembourg Rail Protocol to the Cape Town Convention and the Republic of Cyprus had also deposited its instrument of accession to the Cape Town Convention and Aircraft Protocol as its 86 th Contracting State and complimented the Secretariat on the progress that had been made on the MAC Protocol.

Town Convention and the Republic of Cyprus had also deposited its instrument of accession to the Cape Town Convention and Aircraft Protocol as its 86 th Contracting State and complimented the Secretariat on the progress that had been made on the MAC Protocol.

5. Underscoring the strengthened relations between India and UNIDROIT, the Chair reported that a very successful high-level seminar of the Indian Ministry of External affairs dedicated to UNIDROIT, as well as a roundtable discussion with senior public sector officials, had been held in New Delhi in July 2023 and had been attended by U NIDROIT officers as well as representatives from various ministries and authorities. The Chair continued to highlight the enormous interest that UNIDROIT had garnered in the past year , which was mirrored in the heightened interest in the Governing Council elections. She again expressed her gratitude for having been honoured to serve as Chair of the General Assembly during the past year, and praised the Secretariat, the Secretary-General, and the entire team as well as the President of UNIDROIT.UNIDROIT 2023 – A.G. (82) 11 3.

Item No. 2: Election of the Chair of the General Assembly 2023-2024

6. The Chair of the General Assembly 2022 -2023 noted that the post of Chair of the General Assembly traditionally rotated among the four geographic regions of U NIDROIT, and that it was the African region’s turn to nominate the new Chair for 2023 -2024. She then invited the SecretaryGeneral to take the floor and explain the election procedure.

7. The Secretary-General thanked the Chair and invited Member State delegations to make their nominations for the role of Chair of the General Assembly for 2023-2024.

8. The representative of Egypt took the floor and suggested the nomination of South Africa as Chair for the General Assembly for 2023-2024.

9. The Chair of the General Assembly 2022-2023 opened the floor to Member State delegations for expressions of support, which were provided by the representatives of India, Brazil, Indonesia,

Chair for the General Assembly for 2023-2024.

9. The Chair of the General Assembly 2022-2023 opened the floor to Member State delegations for expressions of support, which were provided by the representatives of India, Brazil, Indonesia, Mongolia, Chile, Mexico, the Republic of Korea, China, Paraguay, Tunisia, and Uruguay.

10. The Chair of the General Assembly 2022 -2023 thanked the delegation and concluded that the General Assembly, by acclamation, appointed Her Excellency Ambassador Nosipho Nausca-Jean Jezile (South Africa) as the Chair of the General Assembly 2023-2024.

11. The Chair of the General Assembly 202 3-2024 expressed her profound gratitude for the confidence placed in her election by the State delegations and accepted the appointment as Chair for 2023-2024 on behalf of South Africa. She expressed her intention to lead the 82nd meeting of the General Assembly to a successful conclusion.

12. In retrospect, she referred to South Africa’s contributions to U NIDROIT over 50 years of membership, such as the country’s close involvement in the process of adopting the Cape Town Convention and the Pretoria MAC Protocol. Furthermore, she complimented the Chair of the General Assembly 2022-2023 for her exceptional work and invited the Member State delegations to join her in a round of applause. She further gratefully acknowledged the commitment and the dedication of UNIDROIT President Professor Malaguti, the Secretary-General and the Deputy Secretary-General, as well as the other members of staff.

13. The Chair proceeded to state that, i n the context of South Africa’s ties with UNIDROIT, she wished to highlight the importance of implementing and promoting UNIDROIT instruments. She made particular reference to her participation in U NIDROIT’s International Programme for Law and Development, which had previously been known as the “Summer School” and had played a key role in reaching out to countries in the Africa n region. The third edition of U NIDROIT’s International

particular reference to her participation in U NIDROIT’s International Programme for Law and Development, which had previously been known as the “Summer School” and had played a key role in reaching out to countries in the Africa n region. The third edition of U NIDROIT’s International Programme for Law and Development would be held in 2024, and would again be dedicated to African jurists. She underlined that the International Programme for Law and Development was funded by the Italian Government, to which she expressed her high appreciation for its commitment.

14. Introducing other ongoing projects for 2024, the Chair mentioned the entry into force of the Cape Town Convention Protocol on Matters Specific to Railway Rolling Stock (Rail Protocol), and the expected membership of South Africa in the Supervisory Authority of the Registry. She also referred to the importance of disseminating the Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Mining, Agricultural and Construction Equipment (MAC Protocol).

15. The Chair continued to mention five high priority projects which were to enter their final stage in 2024: the Guide to Enactment for the Model Law on Warehouse Receipts, the Guide to Enactment for the Model Law on Factoring, the Best Practices of Effective Enforcement, a Legal Guide on Bank Insolvency and a Legal Guide on Collaborative Legal Structures for Agricultural Enterprises.

Moving on, she noted the excellent progress that had been made in the project on Investment4. UNIDROIT 2023 – A.G. (82) 11

Contracts and the project on Voluntary Carbon Credits. Finally, the Chair looked forward to the celebrations for the 30th anniversary of the UNIDROIT Principles, which would be held at the seat of the institute in 2024. Item No. 3: Adoption of the agenda (A.G. (82) 1)

16. The Chair then drew the attention of the General Assembly to Item 3 of the agenda. She invited any comments on the revised draft agenda and proposed it for adoption.

17. In the absence of comments, t he General Assembly adopted the agenda as proposed (see

Appendix II).

16. The Chair then drew the attention of the General Assembly to Item 3 of the agenda. She invited any comments on the revised draft agenda and proposed it for adoption.

17. In the absence of comments, t he General Assembly adopted the agenda as proposed (see

Appendix II).

Item No. 4: Election of Governing Council Members for 2024 -2028 (A.G. (82) 2 prov. – Extract)

18. The Chair introduced the item and invited the Secretary-General to take the floor to address the election of Governing Council Members for 2024-2028.

19. The Secretary-General took the floor and pointed out that there had been numerous candidacies for the Governing Council 2024 -2028, amounting to 32 candidates for the 25 seats of the Council, as listed in the respective document (A.G. (82) 2) and on the ballot. He then provided an explanation of the voting procedure and noted that votes would be counted by a Special Ballot Committee, consisting of Australia, Colombia and Malta.

20. The Chair opened the floor to Member State delegations for any questions, in the absence of which the Secretary-General then invited the Member State delegations in alphabetical order to cast their votes. The Chair noted that , once the votes had been collected to be counted, the General Assembly would proceed to consider the other items on its agenda.

21. Once all representatives had cast their ballots in the ballot box , the Chair declared the vote concluded and pointed out that the results of the election w ould be announced once the count had been completed1.

22. The Chair noted that the ballot count had been completed and gave the floor to the representative of Malta to announce the results of the Governing Council Elections on behalf of the

Ballot Committee.

23. The representative of Malta stated that 58 Member States had cast their votes which, in accordance with the rules, placed the absolute majority at 30. Applying the rules of procedure regarding geographical representation (i.e. Article 7(6)-(7)), according to which the most voted candidate from

Ballot Committee.

23. The representative of Malta stated that 58 Member States had cast their votes which, in accordance with the rules, placed the absolute majority at 30. Applying the rules of procedure regarding geographical representation (i.e. Article 7(6)-(7)), according to which the most voted candidate from each of the four regions would be automatically elected, the following candidates obtained the majority: in Africa – the candidate from South Africa; in the Americas – the candidate from Mexico; in the Asia Pacific – the candidate from Japan; and in Europe – the candidate from Italy. The representative of Malta went on to provide the general result, which included also candidates elected by region. After the first round of voting, the following 24 Members were directly elected to the Governing Council: from Africa: Mr Eesa Allie FREDERICKS (South Africa) (44 votes); the Americas: Ms Kathryn SABO (Canada) (45 votes), Ms Maria Ignacia VIAL UNDURRAGA (Chile) (50 votes), Mr Jorge SÁNCHEZ CORDERO DÁVILA (Mexico) (51 votes), M r José Antonio MORENO RODRI GUEZ (Paraguay) (47 votes); AsiaPacific: Ms Uma SEKHAR (India) (45 votes), Mr Hideki KANDA (Japan) (52 votes), Ms Sharon ONG

1 The General Assembly continued considering the following agenda items until the ballot count had been completed, which happened when Member States were discussing agenda item 8. However, for the sake of completeness of the report of item 4, and in order to facilitate the understanding of reader, the report on the ballot count is summarised here.UNIDROIT 2023 – A.G. (82) 11 5.

(Singapore) (47 votes), Mr Inho KIM (Republic of Korea) (48 votes); Europe: Mr Jean -Christophe BOULET (Belgium) (51 votes), Ms Monika PAUKNEROVÁ (Czechia) (47 votes), Mr Antti T. LEINONEN

(Singapore) (47 votes), Mr Inho KIM (Republic of Korea) (48 votes); Europe: Mr Jean -Christophe BOULET (Belgium) (51 votes), Ms Monika PAUKNEROVÁ (Czechia) (47 votes), Mr Antti T. LEINONEN (Finland) (49 votes), Mr Rémi DECOUT-PAOLINI (France) (47 votes), Mr Lars ENTELMANN (Germany) (48 votes), Ms Eugenia G. DACORONIA (Greece) (49 votes), Mr Attila MENYHÁRD (Hungary) (43 votes), Ms Karen BANKS (Ir eland) (45 votes), Ms Stefania BARIATTI (Italy) ( 56 votes), Mr Lauris RASNACS (Latvia) (47 votes), Mr Andrzej SZUMAŃSKI (Poland) (42 votes), Mr Alfonso -Luís CALVO CARAVACA (Spain) (50 votes), Mr Niklaus D. MEIER (Switzerland) (49 votes), Mr Yusuf ÇALIŞKAN (Türkiye) (46 votes), Mr Daniel DENMAN (United Kingdom) (41 votes). A tie had been reached for the remaining seat between Mr Ji WENHUA (People’s Republic of China), and Ms Carla SIEBURGH (Netherlands), each of whom had secured 39 votes.

24. The Chair thanked the representative of Malta for announcing the results on behalf of the Ballot Committee and noted that new ballot papers would be distributed for the second ballot between the two candidates, as consistent with Article 7(5) of the Regulations.

25. The Chair allowed the delegates time to consult their governments in this regard and to make their votes, and thereinafter instructed the Secretariat to collect the ballot papers.

26. Once the second ballot had been completed and votes had been counted,2 the Chair gave the floor to the representative of Malta to announce the results on behalf of the Ballot Committee.

27. The representative of Malta stated that 57 Member States had cast their vote in due form. The

26. Once the second ballot had been completed and votes had been counted,2 the Chair gave the floor to the representative of Malta to announce the results on behalf of the Ballot Committee.

27. The representative of Malta stated that 57 Member States had cast their vote in due form. The results were as follows: Mr JI Wenhua (People’s Republic of China) (27 votes) and Ms Carla Heleen SIEBURGH (Netherlands) (29 votes). As a result, Ms Carla Heleen SIEBURGH (Netherlands) was elected to the Governing Council for 2024-2028. A list of elected Members to the Governing Council for the period 2024-2028 can be found in Appendix III.

28. The Chair concluded that the General Assembly had elected the members of the Governing

Council 2024-2028.

Item No. 5: Nomination of The Honourable Leonardo Nemer Caldeira Brant, Judge at the International Court of Justice, as Governing Council Member for 2024-2028 (A.G. (82) 3)

29. The Chair of the General Assembly 2023 -2024 drew the attention of the General Assembly to Item 5 of the draft agenda and invited the Secretary-General to explain the relevant procedure.

30. The Secretary-General took the floor and explained that, according to the Regulations, elections of persons sh ould be carried out by secret ballot but proposed that this procedure be dispensed with as only one person had been nominated. He then invited the Member State delegations to comment on his suggestion.

31. In the absence of comments, the Chair then handed the floor to the President of UNIDROIT to present the candidate.

32. The President expressed her appreciation for the honour bestowed upon her to present the candidate, as this nomination was a symbol of the institutional ties between the ICJ and UNIDROIT, which dated back to the League of Nations. She informed the Assembly that the President of the International Court of Justice had put forward Judge Leonardo Nemer Caldeira Brant, a highly reputed

candidate, as this nomination was a symbol of the institutional ties between the ICJ and UNIDROIT, which dated back to the League of Nations. She informed the Assembly that the President of the International Court of Justice had put forward Judge Leonardo Nemer Caldeira Brant, a highly reputed professor of public international law, as their candidate . Noting that Judge Brant ha d only been

2 The General Assembly continued considering the following agenda items until the second ballot count had been completed, which happened when Member States were discussing agenda item 13. Again, for the same reasons stated in footnote 1, the report on the second ballot count is summarised here.6. UNIDROIT 2023 – A.G. (82) 11

appointed to the Court one year ago, she appreciated that he would be able to serve his whole mandate on the Governing Council.

33. The Chair thanked the President for her presentation of the candidate and invited the Member State delegations to comment on the presentation or the election procedure.

34. In the absence of comments, the General Assembly appointed The Honourable Leonardo Nemer Caldeira Brant, Judge at the International Court of Justice, as Governing Council Member for 2024-2028 by acclamation.

Item No. 6: Statement regarding the Organisation’s activity in 2023 (A.G. (82) 4)

35. The Chair introduced item 6 on the agenda and invited the Secretary-General to present the statement on the Organisation’s activity in 2023.

36. The Secretary-General drew the Assembly’s attention to document (A.G. (82) 4), noting that 2023 had been a remarkable year for UNIDROIT in many ways. He complimented the entire staff of the UNIDROIT Secretariat and expressed his gratitude for the exceptional work that ha d been done with the limited resources available. He gratefully acknowledged that the Institute had welcomed two new Member States in 2023 , the Republic of Singapore and Mongolia, which had both already been actively cooperating with the Institute, and now increased UNIDROIT’s presence in the region.

with the limited resources available. He gratefully acknowledged that the Institute had welcomed two new Member States in 2023 , the Republic of Singapore and Mongolia, which had both already been actively cooperating with the Institute, and now increased UNIDROIT’s presence in the region.

37. The Secretary-General went on to illustrate the projects that had been completed in 2023.

Particularly, he referred to the finalisation of the Model Law on Factoring, an extremely important instrument for access to credit, especially for small and medium -sized enterprises, which had been initiated at the request of the World Bank. Next, he mentioned the Principles on Digital Assets and Private Law, which had already acquired remarkable international attention, and the Model Law on Warehouse Receipts, which was now being subject to negotiations at UNCITRAL, and was expected to be finalised in the coming months.

38. Further, he informed the Assembly that 2023 had seen significant progress for UNIDROIT’s treaties. Two States had ratified the Cape Town Convention and the Aircraft Protocol, and one more had ratified the Luxemburg Rail Protocol, which meant that it had had reached the number of ratifying states required to enter into force. Furthermore , several other States were expected to ratify the Cape Town Convention and related Protocols , as well as the Convention on Stolen or Illegally

Exported Cultural Objects.

39. UNIDROIT had worked in collaboration with the Organisation for the International Carriage by Rail (OTIF), the co -chairs of the Preparatory Commission, the Rail Working Group , and the newly appointed Registrar in building the institutional legal infrastructure required for the treaty to come into force. Three meetings of the Ratification Task Force had taken place in 2023; the Model Rules for the Practical Implementation of the Unique Rail Vehicle Identification System , drafted by the Expert Group set up by the United Nations Inland Transport Committee, had been approved, and the Protocol itself would enter into force on 8 March 2024.

40. With regard to the MAC Protocol, he highlighted that UNIDROIT had worked on three areas:

Expert Group set up by the United Nations Inland Transport Committee, had been approved, and the Protocol itself would enter into force on 8 March 2024.

40. With regard to the MAC Protocol, he highlighted that UNIDROIT had worked on three areas: the appointment of a Supervisory Authority, the selection of a Registrar, and the preparation of a first complete edition of the Regulations. A competitive bidding procedure had been carried out for the selection of a Registrar, with negotiations underway with the preferred bidder that were expected to continue throughout 2024. Specifically, he mentioned that UNIDROIT had been required to engage an international audit f irm by the Preparatory Commission to assess the financial proposal of the preferred bidder, which had yielded positive results.UNIDROIT 2023 – A.G. (82) 11 7.

41. The Secretary-General went on to emphasise the relevance of the Model Law on Factoring, especially in terms of access to finance for start-ups, particularly in developing countries. The Model Law had recently been presented to a high -level audience in China and at the FCI’s 55th Annual Meeting in Marrakech, where it had gained unanimous support from over 400 relevant stakeholders.

He pointed out that the Model Law on Factoring was already being applied in some countries , and that the preparation of a Guide to Enactment to the Model Law wa s underway as envisaged in the Work Programme.

42. The Model Law on Warehouse Receipts was currently being negotiated at UNCITRAL, where so far only small changes ha d been made to the draft that ha d been approved by the Governing Council in May 2023. The preparation of its own Guide to Enactment also underway, as envisaged in the Work Programme. Both the Model Law and the Guide were expected to be approved in Summer

2024. He also underscored the great practical importance of the Model Law in terms of food security and access to credit in the agricultural sector.

43. Furthermore, the Secretary-General highlighted the groundbreaking nature of the work that had been done on the finalisation of the Principles on Digital Assets and Private Law, especially in

2024. He also underscored the great practical importance of the Model Law in terms of food security and access to credit in the agricultural sector.

43. Furthermore, the Secretary-General highlighted the groundbreaking nature of the work that had been done on the finalisation of the Principles on Digital Assets and Private Law, especially in the absence of existing legal frameworks that UNIDROIT might have identified as codifying existing best practices. He stated that the Principles had prompted remarkable interest, and had already been presented in many parts of the world with extraordinary success.

44. The Secretary -General went on to inform the Assembly on the progress of the Bank Insolvency project, which UNIDROIT had undertaken with the Bank of International Settlements ’ Financial Stability Institute, again highlighting the extraordinary interest that the project had been able to attain . The work had been very effective, and it was expected that a final draft would be presented to the UNIDROIT Governing Council in May 2024. The significantly relevant instrument that would result from the project would fill a gap in terms of rules applicable to the distress of small and medium sized banks.

45. Remarkable progress had also been made on other ongoing projects, namely those on Private Art Collections, Best Practices for Effective Enforcement, and the Collaborative Legal Structures of Agricultural Enterprises Guide . T wo new projects had also begun to develop , namely the Legal Guidance on International Investment Contracts in collaboration with the International Chamber of Commerce, and the Project on the Legal Nature of Voluntary Carbon Credits , undertaken at the request of the International Swaps and Derivatives Association and the Government of Paraguay .

Referring to the latter, he informed the Assembly that two preparatory meetings and a first session of the Working Group had been held in 2023 and underlined the significant impact of Voluntary Carbon Credits in supporting the fight against climate change. A high-level paper was currently being prepared in collaboration with UNCITRAL , however the aim behind the project was to develop a normative instrument.

46. Preparatory work had also been carried out on the joint project with Hague Conference on

Carbon Credits in supporting the fight against climate change. A high-level paper was currently being prepared in collaboration with UNCITRAL , however the aim behind the project was to develop a normative instrument.

46. Preparatory work had also been carried out on the joint project with Hague Conference on Private International Law on Law Applicable Law to Cross-Border Holdings and Transfers of Digital Assets and Tokens, which was aimed at complementing the work that UNIDROIT had been doing on digital assets and private law. Initial, preparatory work had also been carried out on the project on

Private Art Collections in 2023.

47. In the context of U NIDROIT’s academic activit y, t he Secretary-General highlighted the importance of UNIDROIT’s Library, and provided an account of the past and future events organised by the Queen Mary/UNIDROIT Institute of Transnational Commercial Law, which was now under a new leadership and a new programme. He also informed the Assembly about the creation of the Roma Tre/UNIDROIT Centre for Transnational Commercial Law and International Arbitration . Furthermore, he reported that the Cape Town Convention Academic Project had successfully held its annual8. UNIDROIT 2023 – A.G. (82) 11

Conference at the University of Cambridge. A new Moot Court programme based on the interpretation of the Cape Town Convention had also been created.

48. Expressing gratitude towards Professor Giuditta Cordero-Moss and her family, he noted that their donation of the book collection of the late Professor Franco Cordero to UNIDROIT had enormously enriched the Institute’s library and had led to the creation of the newly founded Nordic Law Centre.

He also gratefully acknowledged the generous support provided by the Bank of Italy as well as the Italian Government, which had each funded a Chair Programme in the fields of Bank Insolvency and Private Law and Agriculture respectively . He thanked Prof essor Sir Roy Goode for his generous recurring donation to the Institute, which had enabled UNIDROIT to grant yet another Sir Roy Goode

Italian Government, which had each funded a Chair Programme in the fields of Bank Insolvency and Private Law and Agriculture respectively . He thanked Prof essor Sir Roy Goode for his generous recurring donation to the Institute, which had enabled UNIDROIT to grant yet another Sir Roy Goode Scholarship, and the People’s