<h1>Insolvency Law Committee recommends adopting UNCITRAL Model Law to enhance cross-border insolvency framework and improve international cooperation.</h1> The Insolvency Law Committee released a report on cross-border insolvency, focusing on enhancing the legal framework for dealing with international insolvency cases. The report recommends adopting the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency to improve coordination between domestic and foreign insolvency proceedings. This adoption aims to provide a structured and predictable approach to handling cases involving assets and creditors in multiple jurisdictions, thereby increasing the efficiency and effectiveness of insolvency resolutions. The report emphasizes the importance of international cooperation and the need for legislative amendments to support these reforms.