Though UNCITRAL model law is not a substantive law, yet it recommends protection to creditors and other interested persons. Briefly describe what are the protections provided under the UNCITRAL model law.

The UNCITRAL Model Law contains following provisions to protect the interest of the creditors (in particular local creditor), the debtor and other affected persons – Availability of temporary relief upon application for recognition of a foreign proceeding or upon recognition is subject to the discretion of the court, it is expressly stated that in granting such relief the court must be satisfied that the interests of the creditors and other interested persons including the debtors are adequately protected (Article 22). The court may subject the relief it grants to conditions it considers appropriate. The court may modify or terminate the relief granted, if so required by a person affected thereby (Article 22). In addition to those specific provisions, the UNCITRAL Model Law in a general way provides that the court may refuse to take an action governed by the Model Law if the action would be manifestly contrary to the public policy of the enacting State (Article 6).