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Commodities in Focus Weekly - UNCITRAL adopts UNCITRAL/UNIDROIT Model Law on Warehouse Receipts
On 27 June 2024, the United Nations Commission on International Trade Law ("UNCITRAL") announced its adoption of the UNCITRAL/UNIDROIT Model Law on Warehouse Receipts ("MLWR") at its 57th session in New York.1 In this update, we will (i) revisit the legal status of warehouse receipts under English law; and (ii) provide an overview on the MLWR before its final text is published.
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1 United Nations Information Service, "UNCITRAL/UNIDROIT Model Law on Warehouse Receipts adopted by the United Nations Commission on International Trade Law" (27 June 2024) <https://unis.unvienna.org/unis/pressrels/2024/unisl358.html> accessed 9 July 2024.