International trade brings great opportunity for business profit, but also exposes the supplier of goods and services to financial risk and unpaid trade debt.
The rights of creditors in the international forum relies heavily on international treaties, plus the ‘local’ debtor/creditor laws of the appropriate jurisdiction. Lawyers advising multinational businesses engaged in international trade should be familiar with the legal obstacles and challenges to the rights of creditors in the international arena.
The goals of the International Creditor’s Rights Committee are to:
- develop among the members an understanding of various legal doctrines and treaties dealing with international creditor’s rights;
- promote the rule of law in the development of sustainable national and international policies;
- to create an active world-wide network of creditor’s rights legal practitioners; and
- study the connections and overlaps between creditor’s rights law and other legal disciplines.
To achieve these goals the International Creditor’s Rights Committee will engage in the following activities:
- hold meetings of its members;
- organize substantive discussions of creditor’s rights law issues at meetings of the International Law Section;
- coordinate with other Committees and other Sections of the New York State Bar Association;
- contribute content to the publications of the International Law Section and New York State Bar Association; and
- create networking opportunities for its members.
- lobby where appropriate to introduce new legislation designed to enhance collection of international debts.