The Dutch shrimp factory Heiploeg was declared bankrupt in November 2014. The undertaking was relaunched immediately, as the relaunch was prepared in a ‘pre-pack’ construction. All 180 employees of the bankrupt company were dismissed by the administrator. 120 employees were immediately employed again by the relaunched company, but on different employment conditions.

On 20 May 2015, the European Parliament adopted a new version (the "Revised Regulation") of Regulation 1346/2000 on insolvency proceedings (the "Original Regulation").

According to the statement of the Council's reasons, the Revised Regulation is aimed at making cross-border insolvency proceedings more effective with a view to ensuring the smooth functioning of the internal market and its resilience in economic crises.

Bank structural reform: too big to fail, too big to save and too complex to manage, supervise and resolve? 1.1 The case for bank structural reform Bank structural reform is the result of a global financial crisis which developed in the summer of 2007 and became obvious in the EU in the latter part of 2008. The EU Member States that share an economic and monetary union (‘the Eurozone’) began to appear particularly vulnerable: the Greek sovereign debt crisis became apparent in early 2010 and serious economic problems emerged in Ireland, Portugal, Italy and Spain.

Current state of play

1. Introducción

Introduction

Welcome  to  the  September  2015  Newsletters:    Highlights  this month include:

1.  Art. 1(1)(c) of the Regulation. Appraisal

Analysis GA&P | July 2015 1 Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings has replaced Council Regulation (EC) No 1346/2000 of 29 May 2000. This new Regulation, which will apply to insolvency proceedings opened after 26 June 2017 (art. 86), contains relevant changes. In this paper we will address one of the most significant: the inclusion of specific rules concerning the treatment of insolvency proceedings of the members of a group of companies (new discipline contained in Chapter V of the Regulation, comprising arts.

Análisis GA&P | Julio 2015 1 N. de la C.: En las citas literales se ha rectificado en lo posible —sin afectar al sentido— la grafía de ciertos elementos (acentos, mayúsculas, símbolos, abreviaturas, cursivas...) para adecuarlos a las normas tipográficas utilizadas en el resto del texto. El Reglamento (UE) 2015/848 del Parlamento Europeo y del Consejo, de 20 de mayo del 2015, sobre procedimientos de insolvencia, ha venido a sustituir al Reglamento (CE) 1346/2000, de 29 de mayo.

Following on from our recent blog on ‘How the UK General Election Might Influence the Recast Insolvency Regulation’ and whether the UK will still be part of the EU in 2017 when it comes into force, we consider the ‘hokey cokey’ of the upcoming EU referendum.