European Insolvency Regulation

The new European Insolvency Regulation (Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings) has come into effect on 26 June 2017 for insolvency proceedings that are opened on or after that date. The Recast Regulation reforms the EC Regulation (1346/2000) on insolvency proceedings. The main changes of the regulation are: the extension of its application to preventive insolvency proceedings; the creation of publicly accessible online insolvency registers; the possibility of avoiding the opening of multiple proceedings and preventing ‘forum shopping’;the introduction of new procedures with the aim of facilitating cross-border coordination and cooperation between multiple insolvency proceedings in different Member States relating to members of the same group of companies. A team of experienced insolvency law experts, among them judges, insolvency practitioners and academics, have analysed the European Insolvency Regulation article by article. The authors focus on the new provisions and mechanisms as well as on the existing and to a great extent still relevant case law by the European Court of Justice and courts of the Member States. Dr Moritz Brinkmann is professor for insolvency law at the University of Bonn, Germany. The new European Insolvency Regulation (Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings) has come into effect on 26 June 2017 for insolvency proceedings that are opened on or after that date. The Recast Regulation reforms the EC Regulation (1346/2000) on insolvency proceedings. The main changes of the regulation are: ? the extension of its application to preventive insolvency proceedings; ? the creation of publicly accessible online insolvency registers; ? the possibility of avoiding the opening of multiple proceedings and preventing ‘forum shopping’; ? the introduction of new procedures with the aim of facilitating cross-border coordination and cooperation between multiple insolvency proceedings in different Member States relating to members of the same group of companies. A team of experienced insolvency law experts, among them judges, insolvency practitioners and academics, have analysed the European Insolvency Regulation article by article. The authors focus on the new provisions and mechanisms as well as on the existing and to a great extent still relevant case law by the European Court of Justice and courts of the Member States. Dr Moritz Brinkmann is professor for insolvency law at the University of Bonn, Germany.