Judicial Co-operation in economic recovery (JCOERE) by Irene Lynch Fannon and Jennifer L. L. Gant

Dramatic changes to insolvency law throughout the EU in the last couple of decades have refocused on rehabilitation and rescue instead of liquidation.

Rescue frameworks have often introduced conflicts with traditional insolvency law principles such as equality of treatment of creditors, transparency and predictability. This has become even more complicated due to the requirement for judicial cooperation in cross-border insolvency cases.

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A closer look at…The General Approach of the Council on the European Commission’s Proposal Directive on Preventive Restructuring Frameworks by Emmanuelle Inacio

On 11 October 2018, the (Justice and Home Affairs) Council agreed upon its position on the compromise text concerning the European Commission’s Directive Proposal on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures and amending Directive 2012/30/EU of 1 October 2018.

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Insolvency news and trends from Helsinki to Brussels by Myriam Mailly

The INSOL International Helsinki 2018 Joint One-Day Seminar took place at the Hilton Helsinki Strand Hotel on Wednesday 13th June and was jointly organised by INSOL International, INSOL Europe and the Finnish Insolvency Law Association (FILA) and enjoyed the presence of more than 100 delegates representing ten different jurisdictions: Denmark, Finland, France, Germany, Hungary, Romania, Sweden, the UK and the US.

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Books Reviews by Paul J.Omar and David Ehmke

L’Application du règlement 1346/2000 relatif aux Procédures d’Insolvabilité aux Groupes des Sociétés (The application of the European Insolvency regulation to corporate groups: an Anglo-French perspective) by Myriam Mailly.

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Wrongful trading in Europe by Mihai Lanţoş

All modern European systems of law in force today provide for some sort of liability system for directors of companies, triggered by situations related to insolvency. If in some cases the obligations of the directors or the liability cases are loosely defined (holding the directors liable if general duties are disregarded), other pieces of legislation provide detailed and specific situations for misconduct leading to personal liability.

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Brexit's Impact on Cross-Border Insolvencies by Charles Draper

On 29 March 2017, the Government of the United Kingdom activated Article 50 of the Treaty on European Union, formally commencing the UK’s exit from the EU.

 

The European Union (Withdrawal) Act 2018 fixed the exit date for 11pm on 29 March 2019. With only just over 6 months remaining until the UK officially divorces from the European Union, we summarise the current position and impact of withdrawal on EU-UK cross-border insolvency proceedings.

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Greek debt deal - Breakthrough or ball and chain? by Yiannis G. Sakkas and Yiannis G. Bazinas

On 22 June 2018, the Eurogroup reached what was termed a “historic” deal on a debt relief for Greece, a momentous achievement and the final step for Greece’s return to economic normality, after almost a decade of European and IMF bailouts. The debt package was portrayed in the public domain as “an historic moment for the Eurozone”, “the end of the Greek crisis” and even “the biggest act of solidarity that the world has ever seen”. However, the same enthusiasm is not shared by all. Concerns still persist that the agreed measures are not sufficient to restore debt sustainability.

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Technical Insight: The Niebler report by Emmanuelle Inacio

On 21 August 2018, the Committee on Legal Affairs of the European Parliament adopted Angelika Niebler’s Report on the European Commission’s Directive Proposal on preventive restructuring frameworks, second chance and measures to increase the efficiency of restructuring, insolvency and discharge procedures and amending Directive 2012/30/EU. Indeed, the committee on Legal Affairs recommended that the European Parliament’s position adopted at first reading under the ordinary legislative procedure (Article 294 TFUE) should amend the European Commission’s Directive Proposal.

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