An international multi-disciplinary approach to combatting fraud in insolvency by Carmel King & Willem van Nielen

An international multidisciplinary approach to combatting fraud in insolvency is a practical necessity. Where cases are multi-jurisdictional, it is essential to use innovative approaches with input across several disciplines. The INSOL Europe Anti-Fraud Forum (“AFF”) was established with this as one of its aims. This working group currently has 69 members spanning 22 jurisdictions, all of whom specialise in using insolvency processes to assist with the tracing and recovery of assets.

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Increasing efficiency in insolvency proceedings: The appointment of IPs by Frank Heemann

The recently adopted Directive on restructuring and insolvency (the ‘Directive’) seems to indicate that IT might help running proceedings more efficiently. For example, in connection with the selection of practitioners, the Directive’s Recital 88 reads:

“Member States should not be prevented from providing for a practitioner to be selected by other methods, such as random selection by a software programme, provided that it is ensured that in using those methods due consideration is given to the practitioner's experience and expertise.”

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Focus on the collection of national insolvency data within the EU by Myriam Mailly

At EU level, insolvency statistics are viewed as a means of measuring the efficiency of national insolvency frameworks from a cross-border investment angle. It is true that insolvency figures are generally used as a tool to measure the country’s good social and economic health. From a creditor’s perspective, these insolvency statistics can be used as an indicator to enable them to secure their choice in lending in one Member State rather than another. From a debtor’s point of view, figures can also highlight the successfulness of a specific type of proceedings rather than another.

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