Dr Joseph Spooner presents research at World Bank insolvency task force meeting

In April, Dr Joseph Spooner presented research at the annual meeting of the World Bank Group Insolvency and Creditor/Debtor Regimes (ICR) Task Force, at World Bank buildings in Washington, D.C.

The Insolvency and Creditor/Debtor Regimes (ICR) Task Force is composed of international experts who assist the World Bank in developing the World Bank’s Principles for Effective Insolvency and Creditor/Debtor Regimes. These WB Principles serve as a global benchmark for modern insolvency and creditor rights systems and are designed to complement UNCITRAL’s Legislative Guides on insolvency and secured transactions, while also providing practical guidance on implementation, capacity-building and adaptation to different national legal contexts. In consultation with the International Monetary Fund (IMF), the World Bank and UNCITRAL have used these principles and guides to develop the Insolvency and Creditor Rights Standard, to represent the international consensus on best practices for evaluating and strengthening national insolvency and creditor rights systems. The Financial Stability Board has designated the ICR Standard as one of the key standards for sound financial systems and recommends its implementation according to country-specific circumstances.

The Task Force draws from judges, practitioners, academics, and representatives of international and professional bodies. Organizations that have participated or advised include UNCITRAL, IMF, regional development banks, OECD, INSOL International, IAIR, and the International Bar Association, among others. The Task Force meeting in 2026 focused on the topic of personal insolvency. Dr Joseph Spooner offered the opening presentation of the Task Force meeting, presenting research reviewing and reflecting on the operation of the World Bank Group Report on the Insolvency of Natural Persons (2014), which is the only international organisation report of its kind in the field of global personal insolvency law and policy. The meeting featured leading stakeholders from international organisations, professional practice, the judiciary, and regulatory bodies, for an important conversation on the future of personal insolvency policy worldwide.