European Insolvency Regulation

Moritz Brinkmann

doi:10.17104/9783406759031

Summary

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.

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Bibliographic data

Copyright year: 2020
ISBN-Print: 978-3-406-69858-3
ISBN-Online: 978-3-406-75903-1
Publisher: C.H.BECK Recht - Wirtschaft - Steuern, München
Series: Beck International
Language: English
Pages: 558
Product type: Edited Book

Titelei/Inhaltsverzeichnis No access Pages I - XXII
Introduction No access Pages 1 - 10
Regulation (EU) 2015/848 of the European Parliament and of the Council – Recitals No access Pages 11 - 24
1. Article 1. Scope No access Pages 25 - 32
2. Article 2. Definitions No access Pages 33 - 46
3. Article 3. International jurisdiction No access Pages 47 - 63
4. Article 4. Examination as to jurisdiction No access Pages 64 - 69
5. Article 5. Judicial review of the decision to open main insolvency proceedings No access Pages 70 - 73
6. Article 6. Jurisdiction for actions deriving directly from insolvency proceedings and closely linked with them No access Pages 74 - 82
7. Article 7. Applicable law No access Pages 83 - 124
8. Article 8. Third parties’ rights in rem No access Pages 125 - 131
9. Article 9. Set-off No access Pages 132 - 135
10. Article 10. Reservation of title No access Pages 136 - 140
11. Article 11. Contracts relating to immoveable property No access Pages 141 - 144
12. Article 12. Payment systems and financial markets No access Pages 145 - 151
13. Article 13. Contracts of employment No access Pages 152 - 155
14. Article 14. Effects on rights subject to registration No access Pages 156 - 158
15. Article 15. European patents with unitary effect and Community trade marks No access Pages 159 - 161
16. Article 16. Detrimental acts No access Pages 162 - 190
17. Article 17. Protection of third-party purchasers No access Pages 191 - 194
18. Article 18. Effects of insolvency proceedings on pending lawsuits or arbitral proceedings No access Pages 195 - 198
1. Article 19. Principle No access Pages 199 - 206
2. Article 20. Effects of recognition No access Pages 207 - 210
3. Article 21. Powers of the insolvency practitioner No access Pages 211 - 216
4. Article 22. Proof of the insolvency practitioner’s appointment No access Pages 217 - 219
5. Article 23. Return and imputation No access Pages 220 - 225
6. Article 24. Establishment of insolvency registers No access Pages 226 - 238
7. Article 25. Interconnection of insolvency registers No access Pages 239 - 241
8. Article 26. Costs of establishing and interconnecting insolvency registers No access Pages 242 - 243
9. Article 27. Conditions of access to information via the system of interconnection No access Pages 244 - 248
10. Article 28. Publication in another Member State No access Pages 249 - 251
11. Article 29. Registration in public registers of another Member State No access Pages 252 - 253
12. Article 30. Costs No access Pages 254 - 254
13. Article 31. Honouring of an obligation to a debtor No access Pages 255 - 257
14. Article 32. Recognition and enforceability of other judgments No access Pages 258 - 263
15. Article 33. Public policy No access Pages 264 - 266
1. Article 34. Opening of proceedings No access Pages 267 - 277
2. Article 35. Applicable law No access Pages 278 - 281
3. Article 36. Right to give an undertaking in order to avoid secondary insolvency proceedings No access Pages 282 - 314
4. Article 37. Right to request the opening of secondary insolvency proceedings No access Pages 315 - 323
5. Article 38. Decision to open secondary insolvency proceedings No access Pages 324 - 331
6. Article 39. Judicial review of the decision to open secondary insolvency proceeding No access Pages 332 - 333
7. Article 40. Advance payment of costs and expenses No access Pages 334 - 335
8. Article 41. Cooperation and communication between insolvency practitioners No access Pages 336 - 347
9. Article 42. Cooperation and communication between courts No access Pages 348 - 357
10. Article 43. Cooperation and communication between insolvency practitioners and courts No access Pages 358 - 364
11. Article 44. Costs of cooperation and communication No access Pages 365 - 366
12. Article 45. Exercise of creditors’ rights No access Pages 367 - 377
13. Article 46. Stay of the process of realisation of assets No access Pages 378 - 385
14. Article 47. Power of the insolvency practitioner to propose restructuring plans No access Pages 386 - 389
15. Article 48. Impact of closure of insolvency proceedings No access Pages 390 - 392
16. Article 49. Assets remaining in the secondary insolvency proceedings No access Pages 393 - 395
17. Article 50. Subsequent opening of the main insolvency proceedings No access Pages 396 - 399
18. Article 51. Conversion of secondary insolvency proceedings No access Pages 400 - 404
19. Article 52. Preservation measures No access Pages 405 - 410
1. Article 53. Right to lodge claims No access Pages 411 - 413
2. Article 54. Duty to inform creditors No access Pages 414 - 418
3. Article 55. Procedure for lodging claims No access Pages 419 - 426
1. 1. Article 56. Cooperation and communication between insolvency practitioners No access
  2. Article 57. Cooperation and communication between courts No access
  3. Article 58. Cooperation and communication between insolvency practitioners and courts No access
  4. Article 59. Costs of cooperation and communication in proceedings concerning members of a group of companies No access
  5. Article 60. Powers of the insolvency practitioner in proceedings concerning members of a group of companies No access
2. 1. 1. Article 61. Request to open group coordination proceedings No access
    2. Article 62. Priority rule No access
    3. Article 63. Notice by the court seised No access
    4. Article 64. Objections by insolvency practitioners No access
    5. Article 65. Consequences of objection to the inclusion in group coordination No access
    6. Article 66. Choice of court for group coordination proceedings No access
    7. Article 67. Consequences of objections to the proposed coordinator No access
    8. Article 68. Decision to open group coordination proceedings No access
    9. Article 69. Subsequent opt-in by insolvency practitioners No access
    10. Article 70. Recommendations and group coordination plan No access
  2. 1. Article 71. The coordinator No access
    2. Article 72. Tasks and rights of the coordinator No access
    3. Article 73. Languages No access
    4. Article 74. Cooperation between insolvency practitioners and the coordinator No access
    5. Article 75. Revocation of the appointment of the coordinator No access
    6. Article 76. Debtor in possession No access
    7. Article 77. Costs and distribution No access
1. Article 78. Data protection No access Pages 515 - 517
2. Article 79. Responsibilities of Member States regarding the processing of personal data in national insolvency registers No access Pages 518 - 520
3. Article 80. Responsibilities of the Commission in connection with the processing of personal data No access Pages 521 - 522
4. Article 81. Information obligations No access Pages 523 - 523
5. Article 82. Storage of personal data No access Pages 524 - 524
6. Article 83. Access to personal data via the European e-Justice Portal No access Pages 525 - 526
1. Article 84. Applicability in time No access Pages 527 - 530
2. Article 85. Relationship to Conventions No access Pages 531 - 534
3. Article 86. Information on national and Union insolvency law No access Pages 535 - 536
4. Article 87. Establishment of the interconnection of registers No access Pages 537 - 538
5. Article 88. Establishment and subsequent amendment of standard forms No access Pages 539 - 539
6. Article 89. Committee procedure No access Pages 540 - 540
7. Article 90. Review clause No access Pages 541 - 542
8. Article 91. Repeal No access Pages 543 - 543
9. Article 92. Entry into force No access Pages 544 - 544
Annex A No access Pages 545 - 548
Annex B No access Pages 549 - 552
Annex C No access Pages 553 - 554
Annex D No access Pages 555 - 558