European Insolvency Law

Burkhard Hess; Paul Oberhammer; Thomas Pfeiffer

doi:10.5771/9783845258959

Summary

Regulation No 1346/2000 of 29 May 2000 (EIR) has become the cornerstone of European insolvency law. The Regulation, which is directly applicable in all Member States, forms the instrument for cross-border collective insolvencies in the European Union. Paving the way for a new European insolvency law, the Heidelberg-Vienna-Luxembourg Report carries out a comprehensive legal and empirical examination of the insolvency laws and the insolvency practices in the Members States. Based on thorough ananlyses the reporters evaluate the Regulation and provide recommendations for its revision.

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Bibliographic data

Copyright year: 2014
ISBN-Print: 978-3-8487-0470-5
ISBN-Online: 978-3-8452-5895-9
Publisher: Nomos, Baden-Baden
Series: Kooperationswerke Beck - Hart – Nomos
Language: German
Pages: 1034
Product type: Comment

Titelei/InhaltsverzeichnisPages I - XXXII Download chapter (PDF)
1. Methodology, Scope and Aim of the Study No access
2. 1. The Different Parts No access
  2. The Comparative Research No access
  3. Distribution of Responsibilities No access
1. General Assessment No access
2. 1. 1. The Definition of Insolvency Proceedings No access
    2. The Insolvency of Private Individuals and Self-employed Persons No access
    3. The Exception Rule of Article 1 (2) EIR No access
    4. Absence of Provisions for the Recognition of Insolvency Proceedings Opened outside the EU or the Coordination between Proceedings inside and outside the EU No access
  2. 1. The Definition of Insolvency Proceedings No access
    2. The Coordination between Article 1 (1) EIR and Annex A No access
    3. The Exception Rule of Article 1 (2) EIR No access
3. Pre-insolvency and Hybrid Proceedings not Listed in the Annex A of the EIR No access
4. 1. The COMI of Corporations No access
  2. The COMI of Natural Persons No access
  3. Improving the Procedural Framework No access
  4. Territorial Proceedings (Articles 3 (2) – (4) EIR) No access
5. 1. Main Issues No access
  2. Policy Options and Recommendations No access
6. Groups of Companies No access
7. 1. Article 4 EIR No access
  2. Articles 5 and 7 EIR No access
  3. Article 6 EIR No access
  4. Article 8 EIR No access
  5. Article 9 EIR No access
  6. Article 10 EIR No access
  7. Article 11 EIR No access
  8. Article 12 EIR No access
  9. Article 13 EIR No access
  10. Article 14 EIR No access
  11. Article 15 EIR No access
8. Coordination of Proceedings No access
9. 1. Substantial Issues No access
  2. Procedural Issues No access
1. Underlying Policies No access
2. 1. The Definition of Insolvency Proceedings No access
  2. The Insolvency of Private Individual and Self-employed Persons No access
  3. The Exception Rule of Article 1 (2) EIR No access
  4. Absence of Provisions for the Recognition of Insolvency Proceedings Opened outside the EU or the Coordination between Proceedings inside and outside the EU No access
3. 1. 1. Austria No access
    2. Belgium No access
    3. Czech Republic No access
    4. France No access
    5. Germany No access
    6. Greece No access
    7. Italy No access
    8. Latvia No access
    9. Malta No access
    10. Netherlands No access
    11. Poland No access
    12. Romania No access
    13. Spain No access
    14. Sweden No access
    15. United Kingdom (England and Wales) No access
  2. Assessment: Common Features of Pre-insolvency and Hybrid Proceedings No access
  3. 1. Austria No access
    2. Belgium No access
    3. Bulgaria No access
    4. Cyprus No access
    5. Czech Republic No access
    6. Estonia No access
    7. Finland No access
    8. France No access
    9. Germany No access
    10. Greece No access
    11. Hungary No access
    12. Ireland No access
    13. Italy No access
    14. Latvia No access
    15. Lithuania No access
    16. Luxembourg No access
    17. Malta No access
    18. Netherlands No access
    19. Poland No access
    20. Portugal No access
    21. Romania No access
    22. Slovakia No access
    23. Slovenia No access
    24. Spain No access
    25. Sweden No access
    26. United Kingdom (England and Wales) No access
  4. Assessment of the Findings of the National Reports No access
  5. 1. Austria No access
    2. Belgium No access
    3. Estonia No access
    4. Finland No access
    5. France No access
    6. Germany No access
    7. Greece No access
    8. Hungary No access
    9. Italy No access
    10. Latvia No access
    11. Lithuania No access
    12. Malta No access
    13. Netherlands No access
    14. Poland No access
    15. Romania No access
    16. Slovakia No access
    17. Slovenia No access
    18. Spain No access
    19. Sweden No access
    20. United Kingdom (England and Wales) No access
  6. Assessment: the Application of the EIR with Regard to Third States No access
4. 1. Extention of the Regulation to Pre-insolvency Proceedings No access
  2. Improving the Interfaces between the Definitions in Articles 1 and 2 and the Annexes to the EIR No access
5. Recommendations No access
1. 1. Underlying Policies No access
  2. 1. COMI of Corporations No access
    2. COMI of Individual Persons No access
    3. Relocation Cases No access
    4. Territorial Proceedings No access
  3. 1. The COMI of Corporations No access
    2. The COMI of Natural Persons No access
    3. Investigation ex officio No access
    4. Relocation Cases No access
    5. Territorial Proceedings No access
    6. Policy Options and Recommendations No access
    7. Territorial Proceedings (Articles 3 (2) – (4) EIR) No access
2. 1. Introduction and Underlying Policy No access
  2. 1. Gourdain v. Nadler No access
    2. Seagon v. Deko Marty Belgium No access
    3. SCT Industri AB i likvidation v. Alpenblume AB No access
    4. German Graphics Graphische Maschinen GmbH v. Alice van der Schee, acting as liquidator of Holland Binding BV No access
    5. F-Tex SIA v. Lietuvos-Anglijos UAB “Jadecloud-Vilma” No access
    6. ERSTE Bank Hungary Nyrt v. MagyarA´ llam, BCL Trading GmbH, ERSTE Befektete´si Zrt No access
    7. Rastelli v. Hidoux No access
    8. Pending Cases No access
  3. The Implementation of the ECJ’s Ruling in the Member States No access
  4. Methodological Aspects No access
  5. 1. Principles No access
    2. Key Criteria No access
    3. The Objective Scope of the vis attractiva concursus: Examples of Specific Types of Actions No access
  6. 1. Current Legal Situation No access
    2. Policy Options No access
    3. Related Claims and Jurisdiction on the ground of Connectedness No access
  7. Annex Proceedings Related to Secondary or Territorial Insolvency Proceedings No access
  8. Conflicting Proceedings and Decisions No access
  9. 1. General Remarks No access
    2. Annex Jurisdiction in Cases Related to Third States? No access
  10. Recommendations No access
1. 1. 1. Status Quo: No Specific Provisions in the EIR No access
    2. The Need for Legislation No access
    3. Groups of Companies Come in All Shapes and Sizes No access
    4. Respect Company Law No access
2. 1. General No access
  2. 1. General No access
    2. “Soft” Coordination No access
    3. Who Could Take the Lead? No access
    4. A Market Economy Oriented Approach to Group of Companies Insolvencies No access
  3. 1. The Head Office Approach No access
    2. Eurofood: Hard Cases Make Bad Law No access
    3. Interedil: The Return of Pragmatism No access
    4. Safeguarding the Interedil Approach: One Step in the Right Direction No access
1. 1. The General Principle No access
  2. 1. General Aspects No access
    2. Scope in Relation to Company Law No access
  3. Other Questions Relating to General Concepts of Private International Law No access
  4. 1. Determination of the Debtor (Article 4(2)(a)) No access
    2. Determination of the Assets Belonging to the Estate (Article 4(2)(b)) No access
    3. Powers of the Debtor and the Liquidator (Article 4(2)(c)) No access
    4. Conditions for Set-off (Article 4(2)(d)) No access
    5. Effects of Insolvency Proceedings on Current Contracts (Article 4(2)(e)) No access
    6. Effects of the Insolvency Proceedings on Individual Proceedings not Pending (Article 4(2)(f)) No access
    7. Treatment of Claims against Estate and Debtor (Article 4(2)(g)) No access
    8. Lodging, Verification and Admission of Claims (Article 4(2)(h)) No access
    9. Distribution, Ranking and Set-off Article (4(2)(i)) No access
    10. Conditions for and the Effects of Closure of Insolvency Proceedings (Article 4(2)(j)) No access
    11. Creditors’ Rights after the Closure of Insolvency Proceedings (Article 4(2)(k)) No access
    12. Costs and Expenses (Article 4(2)(l)) No access
    13. Voidness, Voidability or Unenforceability of Legal Acts Detrimental To All Creditors (Article 4(2)(m)) No access
    14. Applicability in Primary and Secondary Proceedings No access
2. 1. The Underlying Policy No access
  2. 1. How to Achieve the Policy Goals? No access
    2. Scope of Application No access
    3. Localisation of Intangible Assets No access
    4. Adjustment, Reduction or Discharge of the Secured Claim No access
  3. ECJ Case-Law No access
  4. 1. Practical Problems Reported No access
    2. The National Legal Context on rights in rem No access
  5. 1. The First Issue: How to Achieve the Policy Goals? No access
    2. Discussion of the Other Issues No access
  6. Recommendations No access
3. 1. The Underlying Policy No access
  2. 1. Third-State-Cases No access
    2. Applicability to Netting Agreements No access
  3. 1. Practical Problems Reported No access
    2. The National Legal Framework on Set-off No access
  4. Recommendations No access
4. 1. The Underlying Policy No access
  2. The Main Issue No access
  3. ECJ Case-Law No access
  4. Implementation by the Member States No access
  5. 1. Case 1 No access
    2. Case 2 No access
  6. Recommendations No access
5. 1. Underlying Policy No access
  2. Discussion No access
  3. Recommendation No access
6. Article 9 EIR: Payment Systems and Financial Markets (Thomas Pfeiffer) No access
7. 1. 1. General Aspects No access
    2. Transfer of an Undertaking No access
  2. Issues of Qualification No access
  3. Issues of Assimilation (Adaptation) No access
  4. Coordination with Guarantee Institutions No access
8. 1. Underlying Policy No access
  2. Discussion No access
  3. Recommendation No access
9. 1. Scope and Underlying Policy No access
  2. Article 12 EIR and Article 5 EIR No access
  3. Article 12 EIR and Article 3 (4) lit a) EIR No access
  4. Recommendation No access
10. 1. General Questions No access
  2. 1. Legitimate Expectations of the Parties No access
    2. Complexity of the Provision? No access
    3. Fraudulent Manipulations? No access
    4. The Proposal to Protect against Changes of the COMI Only No access
    5. Result No access
  3. Need for an Extension? No access
11. 1. Underlying Policy No access
  2. Main Issue No access
  3. Implementation in the Member States No access
  4. Discussion No access
  5. Recommendation No access
12. 1. Information Problem No access
  2. Qualification Issues No access
  3. Arbitration No access
1. General No access
2. 1. 1. Uniform Law as Tool of Coordination: The COMI No access
    2. Territorial Proceedings No access
    3. Coordination of Putative Main Proceedings No access
    4. Jurisdiction for Insolvency-Related Litigation No access
  2. Recognition No access
  3. Applicable Law No access
3. 1. 1. Universality and Territorial Sovereignty No access
    2. Recital 19: The Truth Well Told No access
    3. “The Protection of Local Interest”: An Opaque Approach No access
    4. Secondary Proceedings in Practice No access
    5. Two Options: Reduction of Secondary Proceedings and Improvement of Coordination No access
  2. 1. The Right to Apply for Secondary Proceedings No access
    2. The Opening Procedure No access
    3. Requirements for the Opening of Secondary Proceedings No access
    4. Undertakings in Order to Avoid Secondary Proceedings No access
  3. 1. General No access
    2. Duties under Art 31 EIR No access
    3. Cooperation between Courts or Liquidators and Courts No access
    4. Poor Excuses for Non-Cooperation No access
    5. Art 33 EIR: The Mechanism for Resolving Disputes between the Main and the Secondary Liquidator No access
    6. Secondary Proceedings: Not Necessarily Winding-Up Proceedings No access
1. Introduction No access
2. Regulatory Framework and Underlying Policies No access
3. 1. 1. Application of Articles 40 and 42 (1) EIR in Practice No access
    2. Public Register as Information Tool No access
  2. Procedural Intricacies of the (Transnational) Lodging of Claims No access
  3. Lodging of Claims: Substantive Issues No access
4. Conclusion and Policy Options No access
1. 1. 1. Austria No access
    2. Belgium No access
    3. France No access
    4. Germany No access
    5. Poland No access
    6. Slovakia No access
    7. Spain No access
  2. 1. Belgium No access
    2. United Kingdom (England and Wales) No access
    3. Estonia No access
    4. Germany No access
    5. Latvia No access
    6. Poland No access
2. 1. General No access
  2. 1. Austria No access
    2. Belgium No access
    3. France No access
    4. Germany No access
    5. Lithuania No access
    6. Poland No access
Index No access Pages 273 - 284
Annex – Systematic Summary of National Reports No access Pages 285 - 724
Annex – Systematic Compilation of Case-Law No access Pages 725 - 1034