![]() ![]() (h) Where reorganization is feasible, preserving employment and investment. (g) Addressing concerns over stigmatization because of insolvency and (f) Implementing an effective sanctions regime to prevent abuse or improper use of the simplified insolvency regime and to impose appropriate penalties for misconduct (e) Providing effective measures to facilitate participation by creditors and other parties in interest in simplified insolvency proceedings, and to address creditor disengagement (d) Ensuring protection of persons affected by simplified insolvency proceedings, including creditors, employees and other stakeholders (henceforth referred to as “parties in interest”) throughout simplified insolvency proceedings (c) Promoting the MSE debtor’s fresh start by enabling expedient liquidation of non-viable MSEs and reorganization of viable MSEs through simplified insolvency proceedings (b) Making simplified insolvency proceedings available and easily accessible to micro- and small enterprises (MSEs) (a) Putting in place expeditious, simple, flexible and low-cost insolvency proceedings (henceforth referred to as “simplified insolvency proceedings”) States should provide for a simplified insolvency regime and for that purpose consider the following key objectives: Key objectives of a simplified insolvency regimeġ. ![]() Key objectives of a simplified insolvency regime (recommendation 1): in addition to listing key objectives of a simplified insolvency regime, recommendation 1 cross-refers to the objectives of an effective insolvency law Recommendation(s) of the Legislative Guide on Insolvency Law used as the starting point UNCITRAL Legislative Recommendations on Insolvency of Micro- and Small Enterprises Table of concordance between the UNCITRAL Legislative Recommendations on Insolvency of Micro- and Small Enterprises and recommendations in the UNCITRAL Legislative Guide on Insolvency Law ![]()
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