Subchapter V in International Applications: How Is the World Prop...
The United Nations Commission on International Trade Law Working Group V has been working on a simplified insolvency regime for six sessions because “[m]icro, small and medium-sized enterprises (MSMEs) (MSEs) constitute the majority of businesses in economies around the world.”[1] Its efforts are aimed at ameliorating the effects of rigid insolvency schemes that stifle the efforts of small business enterprises to reorganize.