DeHeng Lawyers Attend the 68th Session of UNCITRAL Working Group V (Insolvency Law) as Members of the Chinese Delegation
2026-04-22
From April 13 to 17, 2026, the United Nations Commission on International Trade Law (UNCITRAL) Working Group V (Insolvency Law) held its 68th session at the UN Headquarters in New York. The session was attended by delegates or observers from approximately 60 countries, including China, as well as several intergovernmental organizations such as the European Union, the World Bank, the International Monetary Fund, and the International Association of Insolvency Regulators (IAIR). Non-governmental international organizations, including the International Bar Association (IBA), the International Insolvency Institute (III), the China Council for the Promotion of International Trade, and the American Bar Association (ABA), also participated.
The Chinese delegation comprised representatives from the Chinese government, leading Chinese universities, and the legal profession. From DeHeng Law Offices, Mr. Gavin Sun, Global Partner and Executive Director; Mr. Frank Wu, Partner; and Mr. Zhou Jie, Partner, attended the session as members of the Chinese delegation.
The session centered on “Applicable Law in Insolvency Proceedings.” Delegations focused their deliberations on the draft Model Law on Applicable Law in Insolvency Proceedings prepared by the Secretariat, and also discussed the draft Guide to Enactment of the Model Law on Applicable Law in Insolvency Proceedings.
These documents, in the form of model legislative provisions and accompanying legislative guidance, advocate for harmonized private international law conflict rules to be applied in cross-border insolvency proceedings. As a general principle, the law of the insolvency forum (lex fori concursus) should govern all aspects of insolvency proceedings, unless otherwise expressly provided. The documents also specify the scope, circumstances, and applicable laws for such exceptions, as well as the effects of applying foreign law in cross-border insolvency cases. Their principle purpose is to enhance certainty and predictability in determining the applicable law in cross-border insolvency, thereby facilitating the efficient and effective conduct of insolvency proceedings and related legal processes. As a model law, its provisions are not binding as a matter of law or international treaty; each State remains free to decide whether to adopt them into its domestic legal system.
The Chinese delegation actively participated in the deliberations and made both substantive statements and technical interventions. Notably, the interventions made by DeHeng lawyers, as members of the delegation, on Article 10 of the draft Model Law on Applicable Law in Insolvency Proceedings were well received and positively acknowledged by other delegations.
The session concluded with a decision to continue discussions on this topic and related issues at the 69th session of UNCITRAL Working Group V. It is expected that the Working Group will finalize its deliberations on the draft Model Law on Applicable Law in Insolvency Proceedings by the end of this year, and submit it for consideration and adoption by UNCITRAL next year.
Since 1997, UNCITRAL has adopted three model laws on insolvency: the UNCITRAL Model Law on Cross-Border Insolvency, the UNCITRAL Model Law on Recognition and Enforcement of Insolvency-Related Judgments, and the UNCITRAL Model Law on Enterprise Group Insolvency. The draft Model Law on Applicable Law in Insolvency Proceedings is expected to become the newest UNCITRAL model law on insolvency and one of the most significant work products of UNCITRAL Working Group V in recent years.
During the session, DeHeng lawyers engaged extensively with insolvency law experts from various countries and briefed some delegates on the latest legislative developments regarding the revision of China’s Enterprise Bankruptcy Law and other bankruptcy-related issues.
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During the session, Mr. Gavin Sun, Mr. Frank Wu and Mr. Zhou Jie were invited to visit the New York offices of two leading U.S. law firms, King & Spalding and Quinn Emanuel Urquhart & Sullivan. They held in-depth discussions on potential cooperation in areas such as commercial arbitration, investment arbitration, cross-border insolvency, and asset tracing. They reached a preliminary consensus on an action plan with King & Spalding to co-host and move forward with seminars on relevant practice areas.
In addition, DeHeng lawyers met with representatives of local clients in New York. Following the session, Mr. Wu was invited to visit Harvard Law School and Yale Law School, where he would deliver special lectures on Chinese law and engage in in-depth exchanges with the faculties and students.
During these meetings and discussions, Mr. Sun noted that the increasingly complex international geopolitical landscape and Sino U.S. relations, compounded by the rapid development of AI technology, have brought significant challenges to the Chinese legal services industry. Nevertheless, he emphasized that there remains substantial potential for academic exchanges and professional cooperation between the two countries in the legal field, particularly in commercial dispute resolution, investment dispute resolution, government compliance review, and cross-border asset tracing. In response, Chinese lawyers must strengthen their professional skills, respond proactively, confront challenges directly, and seize opportunities. All parties expressed agreement with these views and positively appraised the professional competence of DeHeng lawyers.
Building on these engagements, DeHeng will continue to monitor developments in international rule making, become more actively involved in relevant practice, further strengthen and expand international legal business cooperation, and strive to build a world class law firm.
Background Notes
UNCITRAL, established by the United Nations General Assembly in its resolution 2205 (XXI) of 17 December 1966, is the principle legal body of the UN for maintaining fair order in international trade and commercial transactions. The international rules it deliberates and formulates cover dispute resolution, international trade, shipping, insolvency, ecommerce, and other fields. It has six intergovernmental working groups; Working Group V is currently the Insolvency Law Working Group.
This year, UNCITRAL and its subsidiary working groups will hold a series of events to celebrate the 60th anniversary of the establishment of UNCITRAL, as well as the achievements and significant accomplishments it has made since its inception in promoting the unification and facilitation of international economic and trade rules.
King & Spalding, founded in 1885, has approximately 1,300 lawyers and 26 offices worldwide. It is a top-tier U.S. international law firm with a nearly 140 year history, renowned for its practices in international arbitration, corporate investigations, and government matters.
Quinn Emanuel Urquhart & Sullivan, founded in 1986, has approximately 1,400 lawyers and 33 offices globally, including offices in Hong Kong and Shanghai, China. It is a premier U.S. law firm focused on commercial litigation and arbitration.
