As part of the reform of Book V of the Commercial Code, a Moroccan delegation including representatives from the public and private sectors, carried out, from 22 to 26 October 2018, a study and exchange visit to Belgium and Austria.
The delegation mainly included representatives from the Ministry of Justice, the Public Prosecution Department, the General Confederation of Moroccan Companies (CGEM), business lawyers, the CNEA Secretariat and the German Agency for International Cooperation (GIZ).
The visit was organised under the theme « the institution of trustee in insolvency proceedings according to the Belgian law on collective procedures and the UNCITRAL standards", and was an opportunity for the Moroccan delegation to visit different commercial courts notably in Ghent, Brussels and Charleroi, and to inquire about the Belgian experience in managing cases of corporate insolvency. The visit was followed up by working sessions with UNCITRAL experts in Vienna, these sessions focused on good practices and international requirements governing the profession of insolvency representatives: his/ her professional qualifications, obligations, dismissal and relationship with stakeholders. It is worth recalling that the mission of the insolvency representative is to review the company's viability and to propose its recovery or its sale and, where appropriate, its liquidation if it wasn’t pronounced before. The insolvency representative is also responsible for protecting the interest of creditors and economic partners by ensuring the proper implementation of the continuation plan and the payment of debts. This study visit enabled the Moroccan delegation to identify best practices to be included in the draft decree relating to the trustee provided for by Law No. 73-17 amending the Book V of the Commercial Code, which will lead to improved management of cases of corporate insolvency in Moroccan commercial courts.