A review of the EC Regulation on
Insolvency Proceedings 2000 (the
“EIR”) is set to take place in
2012, 10 years after the EIR
initially came into force. One of
the proposed changes is to
broaden the EIR’s scope to
include insolvency proceedings
where an insolvent debtor remains
in possession (“DIP
Proceedings”). At present, the
EIR only applies to insolvency
proceedings which involve “partial
or total divestment of the debtor
and the appointment of a
liquidator”; DIP Proceedings are
therefore excluded.
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